TSX Ends On Buoyant Note

RTTNews | il y a 218

(RTTNews) - The Canadian market closed on a firm note on Wednesday with stocks from across several sectors as investors digested the latest batch of economic data and assessed the impact of US-China tensions on the global economy.

The benchmark S&P/TSX Composite Index settled with a gain of 290.49 points or 1.15% at 25,569.84, rising for the second consecutive day following the U.S. President Donald Trump agreeing to hold off tariffs against Canadian imports by a month.

Technology stocks rose sharply, lifting the Information Technology Capped Index by nearly 3%. Materials stocks rallied on firm metal prices. Healthcare, real estate and consumer discretionary stocks climbed higher.

Several stocks from industrials, communications and utilities sectors too posted impressive gains.

Aurora Cannabis (ACB.TO) soared 45% on upbeat third-quarter earnings. Finning International (FTT.TO) climbed nearly 13% after the company reported adjusted earnings per share of $1.02 in the fourth-quarter, compared with $0.96 in the year-ago quarter. Revenue rose 7% to $2.58 billion from $2.40 billion a year ago.

SSR Mining Inc (SSRM.TO) jumped more than 11% following RBC Capital upgrading the the stock's rating to Sector Perform from Underperform with an $8 price target, hiked from $5.50.

ATS Corporation (ATS.TO) gained nearly 7.5% after the company said its third-quarter bottom line came in at $6.51 million, or $0.07 per share. This compares with $47.18 million, or $0.47 per share, last year. Excluding items, ATS Corp. reported adjusted earnings of $30.9 million or $0.32 per share for the period.

Technology stock BlackBerry (BB.TO) surged nearly 10%. Celestica Inc (CLS.TO) rallied 8.8%. Open Text Corp (OTEX.TO), Computer Modelling Group (CMG.TO), Sylogist (SYZ.TO), Constellation Software (CSU.TO), Shopify Inc (SHOP.TO) and Docebo Inc (DCBO.TO) were among the other major gainers in the tech sector.

In economic news, the S&P Global Canada Composite PMI improved to 49.5 in January 2025, up from 49.0 in December. The S&P Global Canada Services PMI recorded 49.0 in January 2025, slightly up from 48.2 in December 2024.

Canada posted a trade surplus of C$0.7 billion in December of 2024, after recording an upwardly revised deficit of C$1 billion in November. Exports of goods jumped by 4.9% from the previous month to C$69.5 billion, while imports rose by 2.3% to a record high of $68.8 billion.

European Markets Close Mostly Flat

The major European markets closed roughly flat on Friday as the mood turned cautious with investors awaiting Fitch's review of France's sovereign rating. Shares from automobile, banking and healthcare sectors were among the laggards, while mining stocks found fairly good support.

RTTNews | il y a 19 minutes

Canadian Market Drifts Lower On Profit Taking

Despite rising odds of interest rate cuts by the Bank of Canada and the Federal Reserve next week, the Canadian market is down in negative territory on Friday, taking a breather after consistently hitting record highs over the past several sessions.

RTTNews | il y a 1h 13min

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

Preliminary data released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index fell to 55.4 in September from 58.2 in August. Economists had expected the index to edge down to 58.0.

RTTNews | il y a 2h 54min

UK Economy Flatlines In July

The UK economy stagnated in July, posing further challenges to Chancellor Rachel Reeves as any tax hikes or spending cuts would again dampens activity. Real gross domestic product showed no growth in July, as expected, after rising 0.4 percent in June, the Office for National Statistics reported Friday.

RTTNews | il y a 4h 27min

Bay Street Likely To Open On Mixed Note

Canadian shares may open on a mixed note Friday morning as investors are likely to take some profits after recent gains. Firm gold and oil prices may push up resources stocks.

RTTNews | il y a 5h 6min

Russia Central Bank Cuts Rate By 100 Bps

Russia's central bank slashed its benchmark interest rate for the third time this year as higher lending rates weigh on business activity and damp economic recovery. The Board of Directors of Bank of Russia, governed by Elvira Nabiullina, decided to cut the key interest rate by 100 basis points to 17.00 percent from 18.00 percent.

RTTNews | il y a 5h 19min

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the European session on Friday.

RTTNews | il y a 5h 39min

FTSE 100 Modestly Higher As Miners Rise

The UK market is up in positive territory a little past noon on Friday, supported by solid gains in the mining sector thanks to higher metal prices. Investors are also digesting the data showing the UK economy stagnated in July as expansions in services and construction sectors were offset by the decline in industrial production.

RTTNews | il y a 6h 19min

EURUSD	1.17335	GBPUSD	1.35631	AUDUSD	0.66467
USDJPY	147.541	USDCAD	1.38448	USDCHF	0.79626