TSX Ends On Strong Note On Positive Global Cues

RTTNews | hace 947

(RTTNews) - The Canadian market shrugged off a weak start and climbed higher on Tuesday thanks to sustained buying in stocks from healthcare, technology, consumer discretionary and materials sectors.

Several shares from real estate, utilities and industrials sections too posted strong gains.

Investors picked up stocks tracking positive global markets on hopes the Federal Reserve will slowdown the pace of interest rate hikes.

Investors also looked ahead to the Bank of Canada's interest rate decision, due on Wednesday. The Canadian central bank is widely expected to announce another sharp interest rate hike tomorrow. The central bank raised the target for its overnight rate by 75bps to 3.25% in September 2022. The fifth consecutive rate hike by the bank pushed borrowing costs to the highest since 2008.

The benchmark S&P/TSX Composite Index ended with a gain of 178.61 points or 0.94% at 19,097.01, almost near the day's high.

Canopy Growth Corporation (WEED.TO) soared nearly 26%. The company announced a plan to consolidate its U.S. cannabis assets into a new holding company called Canopy USA.

Aurora Cannabis (ACB.TO) surged 16.7%, Tilray Inc (TLRY.TO) climbed 11.5% and Cronos Group (CRON.TO) ended higher by 6.75%, while Bausch Health Companies (BHC.TO) and Bellus Health Inc (BLU.TO) gained 2.6% and 1.7%, respectively.

In the technology section, Celestica Inc (CLS.TO) and Hut 8 Mining Corp (HUT.TO) rallied 16% and 15.75%, respectively. Magnet Forensics (MAGT.TO) gained nearly 7% and Nuvei Corp (NVEI.TO) surted 6.25%.

Shopify Inc (SHOP.TO), BlackBerry (BB.TO), Coveo Solutions (CVO.TO), Telus International (TIXT.TO), Absolute Software (ABST.TO) and Evertz Technologies (ET.TO) gained 2 to 3%.

goeasy (GSY.TO), Nutrien (NTR.TO), Precision Drilling Corporation (PD.TO), Cargojet (CJT.TO), Boyd Group Services (BYD.TO), WSP Global (WSP.TO), Fairfax Financial Holdings (FFH.TO) and Colliers International (CIGI.TO) were among the other major gainers in the session.

Sensex, Nifty Struggle For Direction In Early Trade

Indian shares struggled for direction in early trade on Friday amid concerns that trade headwinds will not subside anytime soon.

RTTNews | hace 1h 1min

Australian Market Swings To Modest Gains In Mid-market

The Australian stock market is swinging to modest gains in mid-market moves on Friday after opening in the red, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 8,400 level, with gains in gold miners and financial stocks partially offset by weakness in iron ore miners and technology stocks.

RTTNews | hace 1h 43min

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Friday, despite the broadly positive cues from Wall Street overnight, as lingering uncertainty about the ongoing trade war continued to weight on the markets after an appeals court temporarily paused the lower court's ruling to block US President Donald Trump's reciprocal tariffs on imports from U.S. trade partners.

RTTNews | hace 2h 15min

Sensex, Nifty Seen Lower Amid US Tariff Uncertainty

Indian shares are likely to open lower on Friday as investors watch the judicial developments surrounding U.S. President Donald Trump's "reciprocal" tariffs and weigh the outlook for Fed policy.

RTTNews | hace 2h 36min

Higher Open Tipped For Thai Stock Market

The Thai stock market on Thursday ended the two-day slide in which it had dropped almost 20 points or 1.5 percent. The Stock Exchange of Thailand now rests just beneath the 1,165-point plateau and it's expected to open to the upside again on Friday.

RTTNews | hace 3h 42min

Japanese Market Sharply Lower

The Japanese stock market is sharply lower on Friday, snapping a five-session winning streak, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling below the 37,900 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.

RTTNews | hace 3h 48min

Additional Support Expected For Hong Kong Stock Market

The Hong Kong stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day winning streak in which it had rallied almost 500 points or 2.2 percent. The Hang Seng Index now sits just beneath the 23,575-point plateau and it's tipped to open higher again on Friday.

RTTNews | hace 4h 12min

Australian Market Modestly Lower

The Australian stock market is trading modestly loser on Friday, reversing the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,400 level, with weakness in iron ore miners and technology stocks partially offset by a mixed performance in energy and financial stocks.

RTTNews | hace 4h 13min

EURUSD	1.13477	GBPUSD	1.34762	AUDUSD	0.64311
USDJPY	143.929	USDCAD	1.38196	USDCHF	0.82319

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TSX Ends On Strong Note On Positive Global Cues