TSX Recovers After Mid-session Setback, Ends Just Marginally Down

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(RTTNews) - After a weak start and a subsequent fall to lower levels, the Canadian market staged a recovery and briefly emerged into positive territory in late afternoon trades on Wednesday, but still ended the session on a negative note, albeit with a marginal loss.

Investors digested a 25-basis point interest rate hike by the Federal Reserve and noted Fed Chief Jerome Powell's comments. The Fed said it anticipates ongoing increases in interest rates will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time.

The benchmark S&P/TSX Composite Index ended lower by 16.33 points or 0.08% at 20,751.05, well off the day's low of 20,579.49.

Technology, consumer discretionary, materials, healthcare and real estate stocks moved higher, while energy and consumer staples shares closed notably lower.

The Energy Capped Index shed 2.8%. Enerplus Corp (ERF.TO), Cenovus Energy (CVE.TO), Canadian Natural Resources (CNQ.TO), Crescent Point Energy (CPG.TO), Imperial Oil (IMO.TO) and Vermilion Energy (VET.TO) lost 3 to 4%.

Consumer staples shares Loblaw Co (L.TO), Metro Inc (MRU.TO), Empire Co (EMP.A.TO) and Weston George (WN.TO) lost 2 to 3.1%.

Technology stock Hut 8 Mining Corp (HUT.TO) soared nearly 12%. BlackBerry (BB.TO) rallied 5.5%, while Quarterhill (QTRH.TO), CGI Group (GIB.A.TO), Lightspeed Commerce (LSPD.TO) and Payfare Inc (PAY.TO) gained 3 to 4.2%.

In the consumer discretionary sector, Linamar Corp (LNR.TO) climbed 5.7%. Brp Inc (DOO.TO), Magna International (MG.TO) and Canadian Tire Corp (CTC.A.TO) gained 3.6 to 4.25%.

Materials shares Silvercrest Metals (SIL.TO), Oceanagold (OGC.TO), Fortuna Silver Mines (FVI.TO), Methanex Corp (MX.TO), Torex Gold Resources (TXG.TO), Ssr Mining (SSRM.TO), Equinox Gold Corp (EQX.TO) and Eldorado Gold (ELD.TO) gained 3 to 4%.

Tilray Inc (TLRY.TO), up 2.8%, was the biggest gainer in the Healthcare Index. Bausch Health Companies (BHC.TO), Bellus Health Inc (BLU.TO) and Canopy Growth Corp (WEED.TO) gained 1.2 to 1.8%.

Real estate stocks Granite Real Estate Investment Trust (GRT.UN.TO), Interrent Real Estate (IIP.UN.TO), First Capital REIT Units (FCR.UN.TO) and CDN Apartment (CAR.UN.TO) posted strong gains.

On the economic front, the S&P Global Canada Manufacturing PMI rose to 51 in January 2022 from 49.2 in the previous month.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

RTTNews | il y a 1h 14min

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | il y a 1h 35min

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | il y a 2h 6min

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | il y a 2h 46min

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | il y a 3h 13min

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | il y a 3h 16min

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | il y a 3h 31min

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | il y a 3h 33min

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