TSX Extends Gains To 3rd Session, Rises Nearly 4.5% In Month

RTTNews | 1123 days ago

(RTTNews) - The Canadian market extended its winning streak to a third straight session, led by strong gains in energy, materials, healthcare and industrials sectors.

Several stocks from financials, real estate and consumer discretionary sectors too posted notable gains.

Fairly strong earnings updates, firm commodity prices, and preliminary data showing a stronger than expected growth of the Canadian economy in the second quarter aided sentiment.

The benchmark S&P/TSX Composite Index, which climbed to 19,733.95, ended with a gain of 236.21 points or 1.21% at 19,692.92, a near 7-week closing high.

The index gained nearly 4.5% in the month.

First Quantum Minerals (FM.TO) soared nearly 10% on strong volumes. Athabasca Oil Corporation (ATH.TO) rallied 5.7%. Arc Resources (ARX.TO), Suncor Energy (SU.TO), Lundin Mining Corporation (LUN.TO), Baytex Energy (BTE.TO) and Crescent Point Energy (CPG.TO) ended higher by 2.5 to 4.5%a.

CCL Industries (CCL.A.TO) and Teck Resources (TECK.A.TO) rallied 7.4% and 7.3%, respectively. TFI International (TFII.TO) surged 5.4%.

Cargojet (CJT.TO), goeasy (GSY.TO), Toromont Industries (TIH.TO), Constellation Software (CSU.TO), Canadian Tire Corporation (CTC.TO) and Nutrien (NTR.TO) gained 2.4 to 4%. WSP Global (WSP.TO) and Canadian National Railway (CNR.TO) also rose sharply.

Data from Statistics Canada showed the nation's real Gross Domestic Product camed in unchanged in May. GDP increased 0.1% in June, the data showed.

According to a report released by the Canadian Federation of Independent Business, Canada's CFIB's Business Barometer long-term optimism index fell for a fourth consecutive month in July, dropping to 52.7, the lowest since May of 2020.

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious 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. Asian markets closed mostly higher on Monday.

RTTNews | 27 minutes ago

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | 58 minutes ago

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 38min ago

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 2h 5min ago

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to 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 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 8min ago

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 23min ago

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 2h 25min ago

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 2h 38min ago

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