TSX Snaps 5-day Winning Streak, Ends Marginally Down

RTTNews | 533天前

(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.

Canadian Market Headed For Another Strong Finish

The Canadian market remains firmly up in positive territory Thursday afternoon, lifted by gains in energy, technology, materials and consumer discretionary stocks. Expectations of an interest rate cut by the Canadian central bank next week, and hopes the upcoming national budget will contain some proposals for huge funding in major initiatives.

RTTNews | 56分鐘前

Swiss Market Ends Moderately Lower

The Switzerland market ended on a weak note on Thursday after languishing in negative territory right through the day's session.

RTTNews | 1小時27分鐘前

European Markets Close Higher As Investors Focus On Earnings

European stocks closed higher on Thursday with investors mostly reacting to corporate earnings announcements. Concerns about geopolitical tensions and the potential impact of tariffs on global economic growth weighed a bit and limited markets' upside.

RTTNews | 1小時48分鐘前

U.S. Existing Home Sales Increase In Line With Estimates In September

A report released by the National Association of Realtors on Thursday showed existing home sales in the U.S. increased in line with economist estimates in the month of September. NAR said existing home sales jumped by 1.5 percent to an annual rate of 4.06 million in September after dipping by 0.2 percent to an annual rate of 4.00 million in August. The rebound matched expectations.

RTTNews | 3小時6分鐘前

Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Higher crude oil and metal prices point to a firm start for the Canadian market on Thursday. Investors are also expecting that the upcoming Canadian budget will contain some huge funding in major initiatives.

RTTNews | 6小時10分鐘前

Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey's central bank reduced the pace of interest rate cuts on Thursday as inflation accelerated due to higher food prices. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Yasar Fatih Karahan, decided to reduce the policy rate by 100 basis points to 39.50 percent from 40.50 percent.

RTTNews | 6小時29分鐘前

FTSE 100 Advances As Investors React To Earnings Announcements

U.K.'s FTSE 100 remains firmly up in positive territory a little past noon on Thursday, with investors reacting to a slew of encouraging corporate earnings announcements. Energy and mining stocks are faring well.

RTTNews | 7小時46分鐘前

French Manufacturing Sentiment Strengthens Unexpectedly

French manufacturing confidence strengthened unexpectedly in October to the highest level in more than a year, data from the statistical office INSEE showed on Thursday. The manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. Moreover, the score was the highest since March 2024.

RTTNews | 8小時1分鐘前

EURUSD	1.16178	GBPUSD	1.3325	AUDUSD	0.65162
USDJPY	152.521	USDCAD	1.39892	USDCHF	0.79513