Bay Street Likely To Open Higher On Firm Commodity Prices

RTTNews | 259 일 전

(RTTNews) - Canadian shares may open higher on Monday with energy and materials stocks attracting buyers thanks to firm crude oil and bullion prices. The mood is likely to remain cautious with investors looking ahead the Bank of Canada's interest rate decision, and U.S. consumer and producer price inflation data, due later in the week.

Swedish miner Boliden AB has inked a deal with Lundin Mining Corporation (LUN.TO) to acquire the Neves-Corvo mine in Portugal and the Zinkgruvan mine in Sweden for upfront cash consideration of $1.300 billion, with contingent payments of up to $150 million, on a cash and debt-free basis.

Mullen Group (MTL.TO) said its plan for 2025 has been approved by the Board of Directors. The group expects that its new acquisitions will enable it to achieve 2025 Plan of $2.2 billion of revenue and $350.0 million of OIBDA. In 2025, the Group plans to deploy $100.0 million of capital expenditures into existing Business Units, and invest $150.0 million towards acquisitions.

Ballard Power Systems (BLDP.TO) announced that it has signed a signed a multi-year supply agreement with Stadler U.S., to supply 8 megawatts of fuel cell engines to power trains for the California Department of Transportation (Caltrans).

The Canadian market closed slightly up on Friday with technology stocks contributing to the positive close. Data showing a much bigger than expected increase in Canadian jobs growth in the month of November aided sentiment.

The benchmark S&P/TSX Composite Index, which hit a new record high at 25,826.98, closed up 11.76 points or 0.05% at 25,691.80. The index gained 0.17% in the week.

Data from Statistics Canada said employment in Canada rose by 51,000 in November of 2024, the most in seven months, extending the slight change of 14,500 from the previous month and well above the market consensus of 25,000.

Meanwhile, the unemployment rate in Canada rose to 6.8% in November, from 6.5% in the previous month. The unemployment rate was expected to come in at 6.6%.

Asian stocks retreated on Monday, as Chinese inflation data signaled continued demand weakness and political turmoil continued in South Korea after President Yoon survived impeachment. Japanese markets outperformed to end slightly higher after Q3 GDP was revised higher, testing bets on a December Bank of Japan rate hike.

European stocks are broadly higher, with China-related miners, luxury goods makers and automotive companies leading the surge.

A measure of China's consumer inflation unexpectedly decelerated in November and factory deflation eased, raising hopes for more proactive fiscal and monetary policies next year to boost domestic consumption.

In commodities, West Texas Intermediate Crude oil futures are up $1.02 or 1.52% at $68.22 a barrel.

Gold futures are gaining $19.80 or 0.75% at $2,679.40 an ounce, while Silver futures are up $0.822 or 2.6% at $32.410 an ounce.

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains 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 | 33 분 전

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside 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 | 1 시간 3 분 전

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral 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. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 1 시간 18 분 전

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation 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 | 1 시간 33 분 전