TSX Ends On Strong Note On Optimism About Interest Rates

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(RTTNews) - The Canadian market ended on a buoyant note on Friday with investors picking up stocks amid rising optimism the Federal Reserve is done with interest rate hikes.

The mood remained bullish despite Fed Chair Jerome Powell calling speculation about interest rate cuts "premature" during remarks at Spelman College today.

Buying was so widespread that all the sectoral indices in the Canadian market moved higher. However, energy and consumer staples sectors, and to an extent - the financials sector - were a bit subdued.

The benchmark S&P/TSX Composite Index ended with a strong gain of 216.58 points or 1.07% at 20,452.87, the highest close since September 18.

The Health Care Capped Index climbed 3.42%. Tilray Inc (TLRY.TO) surged 6.2%. Sienna Senior Living (SIA.TO), Bausch Health Companies (BHC.TO) and Chartwell Retirement Residences (CSH.UN.TO) gained 2.1 to 3%.

The Communications Capped Index surged 2.79%. Quebecor Inc (QBR.B.TO), Rogers Communications (RCI.B.TO), Cogeco Communications (CCA.TO) and Telus Corp (T.TO) gained 2.8 to 3.3%, while BCE Inc (BCE.TO) ended 1.8% up.

The Real Estate Capped Index gained 2.24%, the Industrials Capped Index advanced 2.07%, and the Utilities Index climbed 2.01%. The indices tracking the performances of stocks from materials, consumer discretionary and technology sectors gained 1.67%, 1.62% and 1.24%, respectively.

Bank of Montreal (BMO.TO) gained about 2%. The bank reported fourth-quarter earnings of C$1.49 billion, or C$2.06 per share, compared to C$4.41 billion, or C$6.51 per share a year earlier. Excluding items, adjusted earnings were C$2.02 billion, or C$2.81 per share, compared to C$2.06 billion, or C$3.04 per share, in the previous year.

National Bank of Canada (NA.TO) climbed nearly 5% after reporting fourth-quarter net income of $768 million, up 4% from $738 million in the fourth quarter of 2022.

Data from Statistics Canada showed employment in Canada increased by 24,900 jobs in November, following an addition of 17,500 jobs in the previous month.

Meanwhile, the unemployment rate in Canada incrased to 5.8% in November, up from 5.7% in the previous month.

Average hourly earnings for permanent employees in Canada rose by 5% year-on-year to reach $35.16 in November.

Canada's manufacturing activity contracted in November, data from S&P Global showed. The S&P Global Canada Manufacturing PMI contraction accelerated to 47.7 in November from 48.6 in the previous month, slowing down for the seventh consecutive month.

Hong Kong Stock Market Tipped To Open In The Green

The Hong Kong stock market has moved higher in four straight sessions, collecting more than 560 points or 2.2 percent in that span. The Hang Seng Index now sits just above the 25,800-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | il y a 1h 7min

Japanese Market Slightly Higher

The Japanese stock market is trading slightly higher on Tuesday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 50,400 level, with gains in exporters and financial stocks partially offset by weakness in index heavyweights and technology stocks.

RTTNews | il y a 1h 12min

Win Streak May Continue For China Stock Market

The China stock market has moved higher in four straight sessions, advancing more than 90 points or 2.3 percent along the way. The Shanghai Composite Index now sits just beneath the 3,920-point plateau and it has a solid lead for Tuesday's trade. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | il y a 1h 22min

Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday, adding to the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,700 level, with a mixed performance across most sectors ahead of the release of The Reserve Bank of Australia's minutes of the latest monetary policy meeting.

RTTNews | il y a 1h 31min

Higher Open Called For Taiwan Stock Market

The Taiwan stock market has moved higher in back-to-back sessions, collecting more than 680 points or 2.4 percent along the way. The Taiwan Stock Exchange now sits just beneath the 28,150-point plateau and it figures to open to the upside again on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | il y a 1h 52min

Singapore Bourse May Extend Monday's Gains

The Singapore stock market on Monday wrote a finish to the four-day losing streak in which it had slipped more than 20 points or 0.4 percent. The Straits Times Index now sits just above the 4,610-point plateau and it's expected to open to the upside again on Tuesday.

RTTNews | il y a 2h 22min

Malaysia Shares May Open To The Upside Again On Tuesday

The Malaysia stock market has moved higher in three straight sessions, advancing almost 30 points or 1.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,670-point plateau and it's expected to open in the green again on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | il y a 2h 52min

Japan Stock Market May Add To Its Winnings On Tuesday

The Japanese stock market has finished higher in two consecutive trading days, soaring more than 1,400 points or 2.7 percent along the way. The Nikkei 225 now sits just above the 50,400-point plateau and it may extend its gains on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead. The Nikkei finished sharply higher on Monday following gains from the financial shares, technology stocks and automobile producers. For the day, the index jumped 895.18 points or 1.81 percent to finish at 50,402.39 after trading between 49,982.20 and 50,590.88. Among the actives, Nissan Motor improved 0.75 percent, while Mazda Motor accelerated 4.34 percent, Toyota Motor advanced 0.91 percent, Honda Motor strengthened 1.61 percent, Softbank Group soared 4.09 percent, Mitsubishi UFJ Financial jumped 1.86 percent, Mizuho Financial vaulted 1.40 percent, Mitsubishi Electric rallied 1.74 percent, Panasonic Holdings spiked 3.47 percent and Hitachi expanded 1.89 percent.

RTTNews | il y a 3h 7min

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