Bay Street Set To Open On Firm Note
(RTTNews) - Canadian shares are headed for a firm start Friday morning, tracking higher crude oil prices and positive global cues.
In earnings news, BlackBerry (BB.TO) has reported stronger than expected first quarter revenue thanks to growth in its auto products and cybersecurity services segments. The company said that revenue from its internet-of-things segment that includes its auto products grew the fastest in the first quarter at 19%, with a gross margin of 84%.
The Canadian market ended sharply lower on Thursday, with its benchmark S&P/TSX Composite Index falling to a new 52-week low, as rising possibility of a recession weighed on sentiment. The index ended with a loss of 286.92 points or 1.51% at 18,717.12, after hitting a low of 18,661.52.
Asian stocks ended higher on Friday, as a continuous decline in commodities from crude oil to metals to cotton helped ease fears around runaway inflation.
European stocks are surging higher amid slightly easing worries about inflation following a drop in commodity prices. Markets have ignored survey results showing that German business morale fell more than expected in June. The Ifo institute said its business climax index dropped to 92.3 from 93.0 in May.
In commodities, West Texas Intermediate Crude oil futures are up $1.95 or 1.87% at $106.22 a barrel.
Gold futures are lower by $2.80 or 0.16% at $1,827.00 an ounce, while Silver futures are down $0.217 or 1.06% at $20.825 an ounce.
Canadian Dollar Falls Against Most Majors
Swiss Market Ends Modestly Higher As Stocks Rise In The Final Hour
European Markets Close Higher As Stocks Recover After Cautious Start
TSX Climbs To New Record High As Technology, Materials Stocks Rise
U.S. Consumer Sentiment Rebounds Less Than Previously Estimated In December
U.S. Existing Home Sales Rise Less Than Expected In November
Russia Cuts Key Rate By 50 Bps As Expected
