TSX Posts New Closing High On Widespread Buying

RTTNews | il y a 566
TSX Posts New Closing High On Widespread Buying

(RTTNews) - The Canadian market ended on a strong note on Friday, with stocks from across several sectors moving higher on sustained buying interest. The mood was quite positive right through the day's session with investors digesting the jobs data from the U.S. and Canada.

The benchmark S&P/TSX Composite Index ended with a gain of 212.59 points or 0.96% at 22,264.38 a new closing high. The index touched a new intraday high of 22,316.92. It gained about 0.43% in the week.

Materials, consumer staples, technology, energy, healthcare, consumer discretionary and real estate stocks were among the major gainers.

Newmont Corporation (NGT.TO) gained about 5.5%. Methanex Corporation (MX.TO), Kinaxis Inc (KXS.TO), Dollarama Inc (DOL.TO), Franco-Nevada Corporation (FNV.TO), Agnico Eagle Mines (AEM.TO), Constellation Software (CSU.TO) and EQB Inc (EQB.TO) gained 2.5 to 4%.

George Weston (WN.TO), Fairfax Financial Holdings (FFH.TO), goeasy (GSY.TO), Royal Bank of Canada (RY.TO), Loblaw Companies (L.TO) and FirstService Corporation (FSV.TO) advanced 1 to 2%.

Canopy Growth Corporation (WEED.TO), B2Gold Corp (BTO.TO), Lundin Mining Corporation (LUN.TO), Barrick Gold Corporation (ABX.TO), Kinross Gold Corporation (K.TO), Royal Bank of Canada (RY.TO) and Canadian Natural Resources (CNQ.TO) moved up sharply on strong volumes.

Data from Statistics Canada showed employment in Canada edged down by 2,200 jobs in March, following a 40,700 gain in February. Economists had expected an addition of 25,000 jobs in March.

Meanwhile, the unemployment rate in Canada jumped to 6.1% in March from 5.8% in the previous month. The 6.1% reading is the highest since October of 2021. Economists had expected the unemployment rate to come in at 5.9%.

Average hourly wages in Canada rose 5% in March, after rising 4.9% in the previous month.

A report from the Ivey Business School said the Ivey Purchasing Managers Index in Canada increased to 57.5 in March, up from 53.9 in February, rising for the eighth consecutive month. The figure was also the highest in a year.

The U.S. Labor Department said non-farm payroll employment spiked by 303,000 jobs in March after surging by a downwardly revised 270,000 jobs in February. Economists had expected employment to jump by 200,000 jobs compared to the addition of 275,000 jobs originally reported for the previous month.

The report also said the unemployment rate edged down to 3.8% in March from 3.9% in February, while economists had expected the unemployment rate to come in unchanged.

The Labor Department said the annual rate of wage growth slowed to 4.1% in March from 4.3% in February, in line with estimates.

read more
U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In October

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In October

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than initially estimated in the month of October. The University of Michigan said its consumer sentiment index was downwardly revised to 53.6 from the preliminary reading of 55.0. Economists had expected the consumer sentiment index to be unrevised from the preliminary reading.
RTTNews | il y a 22 minutes
U.S. Consumer Prices Rise 0.3% In September, Slightly Less Than Expected

U.S. Consumer Prices Rise 0.3% In September, Slightly Less Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September. The Labor Department said its consumer price index rose by 0.3 percent in September after climbing by 0.4 percent in August. Economists had expected consumer prices to rise by another 0.4 percent.
RTTNews | il y a 1h 5min
Eurozone Private Sector Growth At 17-Month High

Eurozone Private Sector Growth At 17-Month High

The euro area private sector growth accelerated to a 17-month high in October as new orders registered a steeper growth despite continuing fall in business from abroad. The flash HCOB composite output index climbed unexpectedly to 52.2 in October from 51.2 in September. The reading was expected to fall to 51.0.
RTTNews | il y a 1h 23min
Bay Street Likely To Open With Positive Bias

Bay Street Likely To Open With Positive Bias

Higher Canadian and U.S. futures, firm crude oil prices and data showing a smaller than expected increase in U.S. consumer price inflation in the month of September suggest a positive start for the Canadian market on Friday.
RTTNews | il y a 1h 56min
FTSE 100 Retreats After Positive Start

FTSE 100 Retreats After Positive Start

U.K. stocks opened on a positive note Friday morning after data showed an unexpected increase in UK retail sales in September. However, the market turned a bit easy subsequently, due largely to selling in some mining stocks as metal prices dropped from record highs.
RTTNews | il y a 3h 26min
Pound Falls Against Majors

Pound Falls Against Majors

The pound weakened against other major currencies in the European session on Friday.
RTTNews | il y a 3h 47min
CAC 40 Down Nearly 0.5% In Cautious Trade

CAC 40 Down Nearly 0.5% In Cautious Trade

French stocks are showing weakness on Friday after preliminary data showed a drop in the nation's services sector activity in the month of October. Investors are also reacting to corporate earnings updates, and awaiting the release of delayed U.S. inflation figures for September.
RTTNews | il y a 4h 12min