Energy Stocks Lifting Canadian Market

RTTNews | 883日前

(RTTNews) - The Canadian market is up firmly in positive territory around noon on Monday, extending gains to a seventh straight session.

Energy stocks are leading the market up north, with rising oil prices triggering heavy buying in the sector. Materials shares are the other prominent gainers.

Healthcare and technology stocks are weak. Real estate stocks are lower as well, while shares from the rest of the sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index is up 144.47 points or 0.72% at 20,244.36 a few minutes before noon.

On the economic front, data released by Markit Economic showed the S&P Global Canada Manufacturing PMI dropped to 48.6 in March 2023 from a seven-month high of 52.4 in February. The latest reading indicated a renewed contraction in the country's factory sector that was the steepest since June 2020 after two consecutive months of expansion.

The Energy Capped Indexis up nearly 4.5% as energy stocks are up following Saudi Arabia and other major oil producers announcing surprise cuts.

Cenovus Energy (CVE.TO) and MEG Energy Corp (MEG.TO) are up 8% and 7.7%, respectively. Enerplus Corp (ERF.TO), Athabasca Oil Corp (ATH.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Crescent Point Energy (CPG.TO), Paramount Resources (POU.TO), Baytex Energy (BTE.TO), Imperial Oil (IMO.TO), Whitecap Resources (WCP.TO), Nuvista Energy (NVA.TO), Vermilion Energy (VET.TO) and Precision Drilling Corp (PD.TO) are gaining 3 to 6%.

The Materials Capped Index is up 2.2%. Teck Resources (TECK.A.TO) is soaring more than 14%. The company has rejected unsolicited acquisition proposal from Glencore Plc, stating rival's all-stock offer is inferior to its own planner separation.

K92 Mining Inc (KNT.TO), First Quantum Minerals (FM.TO), Filo Mining (FIL.TO), Fortuna Silver Mines (FVI.TO), Agnico Eagle Mines (AEM.TO), Eldorado Gold (ELD.TO) are up 2.5 to 4.5%.

Saputo Inc. (SAP.TO) said that it agreed to sell two fresh milk processing facilities in Laverton North, Victoria, and Erskine Park, New South Wales, to Coles Group Limited, an Australian-based supermarket, retail, and consumer services chain, in a transaction valued at approximately C$95 million or A$105 million. Saputo Inc. share are down by about 0.4%.

Sun Life Financial, Inc. (SLF.TO) announced Monday it has completed the sale of SLF of Canada UK Ltd. to Phoenix Group Holdings plc (PHNX.L). This transaction will see Sun Life UK's life and pension policies and annuity blocks for UK Clients move to Phoenix Group. Sun Life Financial is up marginally.

Sensex, Nifty Marginally Higher In Early Trade

Indian shares were marginally higher on Wednesday despite rising oil prices and weak cues from global markets.

RTTNews | 24分前

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, adding to the losses in the previous three sessions, with the benchmark S&P/ASX 200 falling well below the 8,900 level, following the broadly negative cues from Wall Street overnight, with weakness in financial and technology stocks partially offset by gains in mining stocks.

RTTNews | 1時14分前

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Wednesday, following the negative cues from Wall Street overnight, as traders remain cautious amid renewed uncertainty among various nations trading with the US, many of which have concluded tariff deals, after a US Appeals Court ruled that US President Donald Trump's "reciprocal tariffs" are illegal. Asian markets closed mixed on Tuesday.

RTTNews | 1時17分前

Sensex, Nifty Set To Open Lower Amid Rising Global Bond Yields

Indian shares look set to open on a weak note on Wednesday, with trade tensions and caution ahead of the two-day Goods and Services Tax (GST) Council meeting, scheduled for Sept 3-4, likely to keep investors on edge.

RTTNews | 2時48分前

Win Streak May End For Thai Stock Market

The Thai stock market has moved higher in back-to-back sessions, adding more than a dozen points or 1 percent in that span. The Stock Exchange of Thailand now sits just shy of the 1,250-point plateau although the rally may stall on Wednesday.

RTTNews | 3時12分前

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Wednesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling below the 42,250 level, with weakness in index heavyweights, financial and technology stocks partially offset by gains in exporter stocks.

RTTNews | 3時36分前

Lower Open Called For Hong Kong Stock Market

The Hong Kong stock market on Wednesday ended the two-day winning streak in which it had picked up almost 620 points or 2.4 percent. The Hang Seng Index now sits just shy of the 25,500-point plateau and it's expected to open in the red again on Wednesday.

RTTNews | 3時57分前

Australian Market Notably Lower

Australian shares are trading notably lower on Wednesday, adding to the losses in the previous three sessions, with the benchmark S&P/ASX 200 falling well below the 8,900 level, following the broadly negative cues from Wall Street overnight, with weakness in financial and technology stocks partially offset by gains in mining stocks.

RTTNews | 3時58分前

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