Canadian Market Ends Modestly Higher

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(RTTNews) - The Canadian market ended modestly higher on Friday, led by gains in materials stocks as gold prices advanced on safe-haven buying. Stocks from the rest of the sectors turned in a mixed performance.

Investors reacted positively to some upbeat earnings updates from top U.S. companies, including Alphabet and Microsoft, and digested U.S. personal consumption expenditure (PCE) data that showed a larger than expected increase in annual consumer price growth.

The benchmark S&P/TSX Composite Index ended with a gain of 83.86 points or 0.38% at 21,969.24, after moving in a tight range between 21,907.48 and 21,997.95. The index gained about 0.5% in the week.

The Materials Capped Index climbed 1.69%. First Quantum Minerals (FM.TO) soared 12.5%. Ero Copper (ERO.TO) surged 8.1%, while Capstone Mining Corp (CS.TO), Hudbay Minerals (HBM.TO), Ivanhoe Mines (IVN.TO), Equinox Gold Corp (EQX.TO) and Filo Mining (FIL.TO) gained 5 to 7%.

Eldorado Gold (ELD.TO) climbed 2.82%. Eldorado reported adjusted net earnings of $55.2 million for the first quarter of 2024, compared to adjusted net earnings of $16.7 million in the year-ago quarter.

Precision Drilling Corp (PD.TO) gained more than 5%. Bombardier Inc (BBD.A.TO) gained 3.75%.

Dayforce Inc (DAY.TO), Thomson Reuters (TRI.TO) and Franco-Nevada Corporation (FNV.TO) ended higher by 2.5%, 1.3% and 1.1%, respectively.

TFI International (TFII.TO) ended down by 2.3%. The company reported first quarter net income of $92.8 million compared to $111.9 million in Q1 2023. Adjusted net income came in at $105.5 million in the first quarter of 2024, compared to $116.5 million a year earlier.

Spin Master Corp (TOY.TO) drifted down 2.6%. Bank of Montreal (BMO.TO), EQB Inc (EQB.TO), Cargojet (CJT.TO), Newmont Corporation (NGT.TO), FirstService Corporation (FSV.TO) and Dollarama Inc (DOL.TO) ended down by 1 to 2%.

In economic news, a report from the Canadian Federation of Independent Business said its business barometer in Canada, an index reflecting 12-month forward expectations for business performance in the country, dropped to 47.5 in April, from an upwardly revised 52.9 in the prior month.

Wholesale sales in Canada fell by 1.3% month-over-month in March, following zero change in February, preliminary estimates showed. The decrease was led by motor vehicle and motor vehicle parts and accessories subsector and the miscellaneous subsector.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous session, with the benchmark S&P/ASX 200 falling well below the 8,850 level, following the broadly negative cues from Wall Street overnight, with weakness in mining and financial stocks partially offset by gains in energy and technology stocks.

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Asian Markets Track Global Markets Lower

Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from global markets overnight, as traders fear the widely expected interest rate cut of a quarter point by the US Fed later in the day will be too little after recent US jobs and inflation numbers. They remain cautious and are reluctant to make significant moves ahead of the announcement.

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Sensex, Nifty Seen Up On Trade Talk Optimism

Indian shares look set to open on a positive note on Wednesday despite weak cues from global markets.

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Lower Open Called For Thai Stock Market

The Thai stock market has moved higher in eight straight sessions, adding almost 55 points or 4.5 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,310-point plateau although it may be stuck in neutral on Wednesday.

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Indonesia Bourse May Run Out Of Steam On Wednesday

The Indonesia stock market has moved higher in six straight sessions, advancing more than 320 points or 4.3 percent in that span. The Jakarta Composite Index now rests just beneath the 7,960-point plateau although the rally may stall on Wednesday.

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Japanese Market Slightly Lower

The Japanese stock market is trading slightly lower on Wednesday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 44,850 level, with weakness in index heavyweights, exporters and financial stocks partially offset by gains in technology stocks.

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Losses May Accelerate For Hong Kong Stock Market

The Hong Kong stock market on Tuesday snapped the two-day winning streak in which it had jumped more than 360 points or 1.4 percent. The Hang Seng Index now sits just beneath the 26,440-point plateau and it may extend its losses on Wednesday.

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Australian Market Modestly Lower

Australian shares are trading modestly lower on Wednesday, reversing the gains in the previous session, with the benchmark S&P/ASX 200 falling below the 8,850 level, following the broadly negative cues from Wall Street overnight, with weakness in mining, financial and technology stocks partially offset by gains in energy stocks.

RTTNews | 3घंटे 3 मिनट पहले

EURUSD	1.18531	GBPUSD	1.36428	AUDUSD	0.66757
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