Canadian Market Extends Losses

RTTNews | 253 일 전

(RTTNews) - The Canadian market is down in negative territory around noon on Thursday with stocks drifting lower for a sixth straight session, weighed down by lingering concerns about the outlook for growth, fears of tariff hikes, and hawkish comments from the Federal Reserve.

The benchmark S&P/TSX Composite Index, which dropped to a low of 24,422.23, is down 98.35 points or 0.4% at 24,458.65 a little past noon.

CargoJet (CJT.TO), Telesat Corporation (TSAT.TO), Softchoice Corporation (SFTC.TO), Hut 8 Corp (HUT.TO), Canadian Pacific Kansas City (CP.TO), Imperial Oil (IMO.TO), Shopify Inc (SHOP.TO) and ATS Corporation (ATS.TO) are down 2 to 4%.

TFI International (TFII.TO), Magna International (MG.TO), Teck Resources (TECK.A.TO), Newmont Corporation (NGT.TO), MTY Food Group (MTY.TO), AtkinsRealis (ATRL.TO), GFL Environmental (GFL.TO) and Dayforce (DAY.TO) are lower by 1 to 1.7%.

Vermilion Energy (VET.TO) is up nearly 3%. The company said it is boosting its dividend by 8% to $0.13 per share, effective in the first quarter of 2025, and released 2025 guidance.

The hike comes as Vermilion outlined a 2025 capital-spending budget of $600 million to $625 million and production guidance of 84,000 to 88,000 barrels of oil equivalent per day. Vermilion estimated its 2025 fund flows from operations and free cash flow at $1.0 billion and $400 million, respectively, based on forward commodity prices.

BRP Inc (DOO.TO) is climbing more than 4%. Goeasy (GSY.TO), Propel Holdings (PRL.TO), TerraVest Industries (TVK.TO) and Kinaxis Inc (KXS.TO) are up 2 to 3.1%. CGI Inc (GIB.A.TO), Sprott Inc (SII.TO), Boyd Group Services (BYD.TO) and Bombardier Inc (BBD.B.TO) are up 1 to 1.5%.

Franco-Nevada (FNV.TO) is up more than 1%. The company announced today that its subsidiary Franco-Nevada (Barbados) signed a precious metals streaming agreement for specific production from Sibanye-Stillwater's Marikana, Rustenburg and Kroondal mining operations in South Africa.

Data from Statistics Canada said average weekly earnings of non-farm payroll employees in Canada rose by 5.3% year-on-year to $1,284.43 in October 2024, the fastest pace since March 2021, following a downwardly revised 4.9% increase in September.

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 1 시간 48 분 전

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 2 시간 6 분 전

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 2 시간 50 분 전

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 3 시간 19 분 전