TSX Snaps 5-day Winning Streak, Ends Marginally Down

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(RTTNews) - After five successive days of gains, the Canadian market ended marginally down on Wednesday, recovering well after an early tumble thanks to some strong buying at select counters post mid afternoon.

The market fell sharply in early trades as technology stocks tumbled on some weak results, particularly from Shopify Inc. Utilities, consumer staples, financials and real estate stocks found support, contributing significantly to market's recovery from lower levels.

The benchmark S&P/TSX Composite Index, which fell nearly 250 points to 22,048.94, recovered to settle at 22,259.16, down just 31.46 points or 0.14%.

Shopify Inc (SHOP.TO) shares tanked 18.5% after the company reported a net loss of $273.00 million for the quarter ended March 2024, compared to net profit of US$68.00 million in the year-ago quarter. NexGen Energy (NXE.TO) plunged more than 12%. The company announced that it has entered into a binding term sheet with MMCap International Inc. for the purchase of 2,702,410 pounds natural uranium concentrate for an aggregate purchase price of US$250 million.

Aritzia Inc (ATZ.TO) ended 4.2% down. Methanex Corporation (MX.TO) and Cameco Corporation (CCO.TO) closed lower by about 3% and 2.1%, respectively. Bombardier Inc (BBD.B.TO) and Teck Resources (TECK.A.TO) also declined sharply.

Stella-Jones (SJ.TO) soared nearly 11% after the company reported a net income of $77 million or $1.36 per share for the first quarter of 2024, up 32% from the year-ago quarter.

Altus Group (AIF.TO) rallied 4.3%. Celestica Inc (CLS.TO), goeasy (GSY.TO), West Fraser Timber (WFG.TO) and CCL Industries (CCL.A.TO) gained 3 to 3.5%.

WSP Global (WSP.TO), Constellation Software (CSU.TO), George Weston (WN.TO), Loblaw Companies (L.TO) and Intact Financial Corporation (IFC.TO) ended higher by 1 to 2%.

Nuvei Corporation (NVEI.TO) reported adjusted net income of $62.5 million for the first quarter, down 3% from $64.5 million a year ago. The stock gained about 0.5%.

B2Gold Corp (BTO.TO) gained 2%. The company posted a net income of $48.5 million in the first quarter of 2024, compared to $102 million in the year-ago quarter.

Goeasy Ltd. (GSY.TO) reported a net income of $58.9 million for the first quarter, up 15% from $51.4 million in the same period of 2023. The stock climbed 3.3%.

Suncor Energy (SU.TO) gained nearly 0.5% after the company reported adjusted operating earnings of $1,817 million for the first quarter of 2024, compared to $1,809 million a year ago.

Australia Inflation Accelerates To 1-Year High

Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.

RTTNews | il y a 35 minutes

European Economic News Preview: German GfK Consumer Confidence Due

Consumer sentiment survey data from Germany is the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK publishes Germany's monthly consumer confidence survey results. The consumer sentiment indicator is forecast to fall to -22 in September from -21.5 in August.

RTTNews | il y a 1h 10min

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.

RTTNews | il y a 1h 59min

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves 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, which could impact the outlook for interest rates.

RTTNews | il y a 2h 3min

Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.

RTTNews | il y a 3h 30min

Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.

RTTNews | il y a 3h 48min

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping 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 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | il y a 4h 0min

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

RTTNews | il y a 4h 6min

EURUSD	1.16176	GBPUSD	1.34512	AUDUSD	0.64852
USDJPY	147.933	USDCAD	1.38429	USDCHF	0.80503