Bay Street Seen Opening On Mixed Note

RTTNews | 1103日前

(RTTNews) - Canadian shares are likely to open on a mixed note on Thursday with investors weighing the ECB's policy announcement, and tracking quarterly earnings updates.

The European Central Bank today raised its interest rate by 75 basis points, the third consecutive increase this year. The bank also announced that it was changing the terms and conditions of its targeted longer-term refinancing operations, or TLTROs — a tool that provides European banks with attractive borrowing conditions, designed to incentivise lending to the real economy.

In Canadian company news, TELUS Corp. (T.TO) and TELUS International (TIXT.TO) announced an agreement to acquire WillowTree, a full-service digital product provider focused on end user experiences. TELUS International will acquire WillowTree for a total enterprise value of $1.225 billion, inclusive of $210 million of assumed debt. The majority stakeholder Insignia Capital Group will sell its stake in WillowTree.

Cameco Corporation (CCO.TO) reported adjusted net earnings of $10 million for the quarter ended September 2022, as against adjusted net loss of $54 million in the year-ago quarter.

Atco Limited (ACO.X.TO) announced third quarter 2022 adjusted earnings of $87 million ($0.76 per share), compared to $69 million ( 0.60 per share) in the third quarter of 2021.

In economic news, a report from the Canadian Federation of Independent Business, Canada's CFIB's Business Barometer long-term optimism index, which is based on a 12-month outlook, fell to 51.4 in October of 2022 from a downwardly revised 52.4 in September, the lowest since April 2020.

The Canadian market ended on a firm note on Wednesday with investors cheering the Bank of Canada's interest rate decision. The benchmark S&P/TSX Composite Index, which rallied to 19,435.91, ended the session with a gain of 182.75 points or 0.96% at 19,279.76.

Citing elevated inflation, the Canadian central bank announced its sixth consecutive interest rate hike of the year, but at 50 basis points, the hike was less than economists' expectations of a 75 basis point increase.

Asian shares ended mixed on Thursday as Fed pivot hopes were offset by concerns over China's growth trajectory. China's Shanghai Composite index slipped 0.55 percent to 2,982.90 after data showed profits at China's industrial firms sank for a third consecutive month in September.

European stocks are notably lower, digesting the European Central Bank's policy announcement, and reacting to quarterly earnings updates.

In commodities trading, West Texas Intermediate Crude futures for December are up $0.80 or 0.91% at $88.71 a barrel.

Gold futures are down $3.40 or 0.2% at $1,665.80 an ounce, while Silver futures are lower by $0.101 or 0.52% at $19.385 an ounce.

Japanese Market Slightly Higher

The Japanese stock market is slightly higher in post-holiday trading on Tuesday after opening well in the red, extending the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 52,450 level, with gains in exporters and automaker stocks partially offset by weakness in index heavyweights, technology and financial stocks.

RTTNews | 1時17分前

Indonesia Stock Market To Remain Rangebound On Tuesday

The Indonesia stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had picked up almost 100 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,275-point plateau and it's likely to see little movement on Tuesday.

RTTNews | 1時30分前

Mild Upside Seen For Hong Kong Stock Market

The Hong Kong stock market on Monday ended the three-day losing streak in which it had dropped more than 520 points or 2 percent. The Hang Seng Index now rests just above the 26,150-point plateau and it's tipped to open in the green on Tuesday.

RTTNews | 1時45分前

Australian Market Notably Lower

The Australian stock market is trading notably lower on Tuesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,850 level, with weakness in iron ore miners, financial, energy and technology stocks partially offset by gains in gold miners and stocks.

RTTNews | 1時53分前