Canadian Market Down Firmly In Negative Territory

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(RTTNews) - The Canadian market is languishing in negative territory around noon on Thursday even as energy stocks are outperforming the market and turning in a fine performance.

Worries about economic slowdown, high inflation and fading hopes about the Fed lightening its policy stance appear to be weighing on the market.

Investors look ahead to the crucial U.S. jobs data for the month of September. The data, due on Friday, is expected to provide clues about the likely policy move by the Fed.

The benchmark S&P/TSX Composite Index is down 228.48 points or 1.19% at 19,006.61 a few minutes past noon.

Shares from utilities, healthcare, financials and real estate sectors are down sharply. Stocks from industrials and communications sections are also notably lower.

The Energy Capped Index is up nearly 1.75%. Athabasca Oil Corp (ATH.TO), Headwater Exploration (HWX.TO), Cenovus Energy (CVE.TO), MEG Energy (MEG.TO), Baytex Energy (BTE.TO), Vermilion Energy (VET.TO), Enerplus Corp (ERF.TO), Paramount Resources (POU.TO) and Crescent Point Energy (CPG.TO) are up 2 to 4.5%.

Suncor Energy (SU.TO) is gaining about 2.5%. The company announced Thursday that it has reached an agreement to sell its wind and solar assets to Canadian Utilities Limited, an ATCO company, for C$730 million.

Waste Connections (WCN.TO), Atco (ACY.TO), West Fraser Timber (WFG.TO), Toronto-Dominion Bank (TD.TO), CCL Industries (CCL.B.TO), TC Energy (TRP.TO), Cogeco Communications (CCA.TO), goeasy (GSY.TO), Bank of Montreal (BMO.TO) and Royal Bank of Canada (RY.TO) are down 1.7 to 6%.

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Canadian Market May Open Slightly Weak

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After a modest upmove in early trades, the U.K. market retreated on Monday with investors turning cautious, focusing on the upcoming meeting between U.S. President Donald Trump and several European leaders, after the Trump-Putin summit failed to result in any breakthrough to end the war in Ukraine.

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German stocks are down in negative territory on Monday with investors focusing on the upcoming meeting between U.S. President Donald Trump and several European leaders, including Ukrainian President Volodymyr Zelenskyy, after the Trump-Putin summit failed to achieve a breakthrough on halting the war in Ukraine.

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Indian shares rose sharply on Monday after Prime Minister Narendra Modi unveiled plans of the biggest tax overhaul since 2017 over the weekend, boosting stocks across sectors like auto, financial, real estate, consumer and cement.

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Eurozone Trade Surplus Declines Sharply In June

The euro area trade surplus declined sharply in June as exports remained weak amid a rebound in imports, official data revealed on Monday. The trade balance registered a surplus of EUR 7.0 billion compared to May's surplus of EUR 16.5 billion, Eurostat reported. Compared to last year, the surplus contracted by EUR 13.7 billion from EUR 20.7 billion.

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Thai Economic Growth Slows In Q2

Thailand's economy grew at a softer pace in the second quarter largely due to the slowdown in tourist arrivals, official data revealed on Monday. Gross domestic product expanded 2.8 percent year-on-year in the second quarter, slower than the 3.2 percent growth posted in the first quarter, the National Economic and Social Development Council said.

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EURUSD	1.1671	GBPUSD	1.35408	AUDUSD	0.65066
USDJPY	147.748	USDCAD	1.37895	USDCHF	0.8075