Bay Street Likely To Inch Higher In Cautious Trade

RTTNews | 582 days ago

(RTTNews) - Canadian shares are likely to open higher on Monday, tracking firm crude oil prices and steady European markets. With the Bank of Canada's monetary policy announcement due on Wednesday, the mood is likely to remain a bit cautious.

The Bank of Canada is widely expected to keep its interest rate unchanged as inflation remains at elevated level. Canada's inflation accelerated to 3.4% in December, from 3.1% a month earlier.

CGI Inc. (GIB-A.TO) announced Monday a partnership with Korber to enable pharmaceutical and life sciences companies to improve production processes by combining CGI's end-to-end services with Korber's Werum PAS-X Manufacturing Execution System (MES) Suite.

Endeavour Mining (EDV.TO) announced that it produced 280,000 ounces of gold in the fourth quarter, down from 294,000 ounces in the year-ago quarter. For the full year 2023, Endeavour posted gold production of 1.07 million ounces, an 8% decrease from 1.16 million ounces in 2022.

Endeavour Mining expects gold production to increase by up to 18% in the full year 2024 to 1.13 million-1.27 million ounces due to project startups in the second quarter.

The Canadian market ended with a gain of 149.79 points or 0.7% at 20,906.52, climbing further off the nearly one-month closing low set on Wednesday.

Optimism about the outlook for earnings may have contributed to the strength in the tech sector ahead of next week's release of quarterly results from companies like Intel (INTC), IBM Corp. (IBM) and Netflix (NFLX).

Asian stocks ended mixed on Monday as concerns over China's faltering economy offset dovish BOJ bets.

European stocks are up in positive territory with investors digesting earnings updates, and looking ahead to the European Central Bank's monetary policy decision on Thursday.

In commodities, West Texas Intermediate Crude oil futures are up $0.40 or 0.54% at $73.81 a barrel.

Gold futures are down $1.20 or 0.06% at $2,028.10 an ounce, while Silver futures are down $0.391 or 1.72% at $22.320 an ounce.

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 | 52 minutes ago

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 | 1h 28min ago

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 | 2h 17min ago

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 | 2h 21min ago

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 | 3h 47min ago

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 | 4h 6min ago

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 | 4h 17min ago

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 | 4h 23min ago

EURUSD	1.16183	GBPUSD	1.34545	AUDUSD	0.64866
USDJPY	147.821	USDCAD	1.38407	USDCHF	0.805