Canadian Market Modestly Lower At Noon; Energy, Cannabis Stocks Fall

RTTNews | 47 일 전

(RTTNews) - The Canadian market is slightly weak around noon on Wednesday, weighed down by losses in healthcare, energy and consumer discretionary sectors. The mood is cautious with investors digesting the latest batch of economic data from the U.S. and awaiting the Federal Reserve's monetary policy announcement.

On the Canadian economic front, the S&P Global Canada Manufacturing PMI dropped to 49.4 in April, decreasing by 0.4 points from the previous month, marking the twelfth consecutive month of contraction in the nation's manufacturing activity.

The benchmark S&P/TSX Composite Index is down 49.84 points or 0.22% at 21,664.70 a few minutes past noon.

The Healthcare Capped Index is down 4.7%. Tilray Inc. (TLRY.TO), which posted a hefty gain in the previous session, is down 17.8%. Aurora Cannabis (ACB.TO) and Canopy Growth Corporation (WEED.TO) are plunging 21% and 26%, respectively. Organigram Holdings (OGI.TO) is down nearly 8%.

The Energy Capped Index is down nearly 2%. Baytex Energy (BTE.TO) is down 5%. Tamarack Valley Energy (TVE.TO), Crescent Point Energy (CPG.TO), Birchcliff Energy (BIR.TO), Vermilion Energy (VET.TO) and Whitecap Resources (WCP.TO) are down 3 to 4%.

Cenovus Energy Inc (CVE.TO) is down 1.7% after the company reported first-quarter net earnings of $1,176 million, compared with $636 million in the year-ago quarter.

Consumer discretionary stock Restaurant Brands International (QSR.TO) is down 3.7%. Mty Food Group (MTY.TO), Aritzia Inc (ATZ.TO) and Canada Goose Holdings (GOOS.TO) are down 1.6 to 1.9%. Brp Inc (DOO.TO) is down nearly 1%.

Among the gainers, Bombardier Inc (BBD.B.TO) climbing 6.3%. Boralex (BLX.TO) is up 4.2%. Cameco Corporation (CCO.TO), Boyd Group Services (BYD.TO), Sprott Inc (SII.TO), Descartes Systems Group (DSG.TO), Constellation Software (CSU.TO), Kinaxis Inc (KXS.TO), George Weston (WN.TO) Intact Financial Corporation (IFC.TO) are up 1 to 3%.

Loblaw Companies (L.TO) is gaining about 1.2%. The company reported adjusted net earnings of $537 million for the first-quarter of 2024, up $32 million or 6.3%, compared to year-ago quarter.

CGI Inc (GIB.A.TO) is down 2.2%. The company reported net earnings of $426.9 million for the second-quarter, up 1.8% year-over-year.

Fortis Inc. (FTS.TO) reported first-quarter net earnings of $459 million, or $0.93 per common share, up from $437 million, or $0.90 per common share in the year-ago quarter. The stock is gaining 0.8%.

Malaysia Stock Market Tipped To Open In The Green On Tuesday

Ahead of Monday's holiday for Eid-al-Adha, the Malaysia stock market had turned lower again on Friday - one day after ending the three-day slide in which it had slumped almost 10 points or 0.6 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,610-point plateau although it's expected to see renewed support on Tuesday.

RTTNews | 4 시간 12 분 전

Renewed Support Anticipated For South Korea Stock Market

The South Korea stock market on Monday snapped the four-day winning streak in which it had advanced more than 55 points or 2 percent. The KOSPI now rests just shy of the 2,750-point plateau although it's likely to bounce higher again on Tuesday.

RTTNews | 4 시간 42 분 전

Australia Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate unchanged at 4.35 percent.

RTTNews | 5 시간 42 분 전

TSX Loses For 3rd Straight Day, Ends At More Than 3-month Low

The Canadian market ended weak on Monday, losing for a third straight day, as uncertainty about the outlook for U.S. interest rates, and lower metal prices weighed on sentiment.

RTTNews | 6 시간 20 분 전

U.S. Dollar Lower Against Majors

The U.S. dollar weakened against its major counterparts in the New York session on Monday, as investors awaited central bank decisions and comments from Federal Reserve officials for clues about the central bank's likely monetary policy moves.

RTTNews | 7 시간 49 분 전

Swiss Market Ends Lower Again

The Switzerland market briefly advanced to positive territory after a weak start Monday morning, but retreated swiftly and spent the rest of the day's session in the red as investors stayed wary of picking up stocks amid a lack of significant triggers.

RTTNews | 10 시간 40 분 전

European Stocks Close Mixed After Choppy Session

European stocks closed on a somewhat mixed note on Monday after a choppy ride as investors tracked the developments on the political front, and awaited interest rate decisions from the Bank of England and the Swiss National Bank, and more economic data for clues about global economic growth.

RTTNews | 10 시간 57 분 전

Canadian Market Notably Lower On Widespread Selling

The Canadian market is down firmly in negative territory a little past noon on Monday with stocks from several sectors recording sharp losses due to sustained selling pressure as investors await fresh economic data for clues about the outlook for Fed interest rates.

RTTNews | 11 시간 27 분 전

EURUSD	1.0739	GBPUSD	1.27125	AUDUSD	0.66157
USDJPY	157.667	USDCAD	1.3715	USDCHF	0.8882