Bay Street Likely To Open On Positive Note

RTTNews | 616天前

(RTTNews) - Canadian shares are likely to open higher on Wednesday, tracking positive European stocks, and higher crude oil prices. Optimism about interest rate cuts from the first quarter of 2024 is also likely to support the market.

Franco-Nevada Corporation (FNV.TO) has reaffirmed that its revised 2023 GEO guidance issued earlier in the month remains unchanged.

Alimentation Couche-Tard Inc (ATD.TO) reported second-quarter net earnings of $819.2 million, compared with $810.4 million in the year-ago quarter.

The Canadian market ended flat after a choppy ride on Tuesday as investors once against showed no big interest in making significant moves.

After a weak start and a subsequent rebound, stocks struggled to find support and largely moved in a tight band. With a slew of crucial Canadian and U.S. economic data due in coming days, the mood continued to remain cautious.

The benchmark S&P/TSX Composite Index ended up 4.11 points or 0.02% at 20,036.77 after scaling a low of 19,918.47 and a high of 20,075.97 intraday.

Asian stocks closed on a negative note on Wednesday amidst anxiety ahead of release of PMI readings from China.

European stocks are broadly higher today amid optimism the Federal Reserve is done raising interest rates, and it might even start reducing rates as early as March 2024. Encouraging inflation data from Germany is also aiding sentiment.

In commodities, West Texas Intermediate Crude oil futures are up $1.34 or 1.75% at $77.75 a barrel.

Gold futures are up marginally at $2,040.30 an ounce, while Silver futures are up $0.040 or 0.16% at $24.975 an ounce.

Swiss Market Ends Notably Lower

Save for a few minutes about an hour after the opening bell, the Switzerland market stayed weak on Wednesday with several stocks reeling under selling pressure. Investors were cautious amid concerns about the impact of U.S. tariffs, and Donald Trump's fresh threat that his government might consider imposing tariffs on chips and pharmaceuticals.

RTTNews | 1小時54分鐘前

European Stocks Close Mostly Higher On Earnings, Fed Rate Cut Hopes

European stocks closed mostly higher on Wednesday, thanks largely to some strong corporate earnings updates, and expectations of an interest rate reduction by the Federal Reserve in September.

RTTNews | 2小時24分鐘前

Canadian Stocks Surge Higher Again; TSX Scales New Record High

Canadian stocks are up firmly in positive territory on Wednesday, and the benchmark S&P/TSX Composite Index stays high up after hitting a fresh record. Rising optimism about a rate cut by the Federal Reserve in September, firm oil prices and some upbeat corporate earnings announcements are contributing to the positive mood in the market.

RTTNews | 3小時14分鐘前

India Holds Key Interest Rates Steady As Trade Tensions Escalate

The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.

RTTNews | 5小時46分鐘前

Bay Street Looks Set To Extend Upmove

Canadian shares look headed for a positive start on Wednesday, riding on some impressive corporate earnings updates, and higher oil prices. The focus will also be on the developments on the trade front.

RTTNews | 7小時14分鐘前

Eurozone Retail Sales Recover In June

Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter, official data revealed on Wednesday. Retail sales grew 0.3 percent on a monthly basis in June, offsetting May's 0.3 percent decline, Eurostat said. However, this was marginally weaker than economists' forecast for a 0.4 percent increase.

RTTNews | 7小時24分鐘前

Euro Rises As European Shares Traded Higher

The euro strengthened against other major currencies in the European session on Wednesday, as European shares traded higher despite weak factory orders data from Germany and fresh tariff threats from U.S. President Donald Trump on pharma and chips. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.

RTTNews | 7小時57分鐘前

Disney Lifts FY25 EPS View After Q3 Profit Beats Market; ESPN In Deal With WWE, NFL

Media and entertainment major Walt Disney Co. (DIS) on Wednesday raised fiscal 2025 outlook for earnings.above the Street after reporting significantly higher profit in its third quarter, above market estimates. Meanwhile, revenues missed the market view, despite reporting a growth. Separately, Disney announced that its unit ESPN has signed a landmark rights agreement with WWE.

RTTNews | 8小時14分鐘前

EURUSD	1.16576	GBPUSD	1.33585	AUDUSD	0.65035
USDJPY	147.169	USDCAD	1.37425	USDCHF	0.80655

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Bay Street Likely To Open On Positive Note