Energy, Materials Shares Lifting Canadian Market; TSX Up Over 1% At Noon

RTTNews | 982 일 전

(RTTNews) - Despite concerns about geopolitical tensions and economic slowdown, the Canadian market remains firmly up in positive territory a little past noon on Tuesday, led by strong gains in energy and materials sections.

The benchmark S&P/TSX Composite Index is up 207.50 points or 1.04% at 20,184.63 a few minutes past noon.

The Materials Capped Index is up 2.8%. Eldorado Gold (ELD.TO) is soaring nearly 10%. Wesdome Gold Mines (WDO.TO), K92 Mining Inc (KNT.TO), Torex Gold Resources (TXG.TO) and Capstone Mining Corp (CS.TO) are gaining 6 to 8%, while Fortuna Silver Mines (FVI.TO) and Sandsome Gold (SSL.TO) are up 5.3% and 5.2%, respectively.

Lundin Gold (LUG.TO) is up more than 16%. Teck Resources (TECK.B.TO), Franco-Nevada Corporation (FNV.TO) and Agnico Eagle Mines (AEM.TO) are also up sharply.

The Energy Capped Index is up 2.21%. Advantage Oil & Gas (AAV.TO), Precision Drilling Corp (PD.TO), Birchcliff Energy (BIR.TO), MEG Energy (MEG.TO), Athabasca Oil Corp (ATH.TO), Prairiesky Royalty (PSK.TO), Tourmaline Oil Corp (TOU.TO) and Enerplus Corp (ERF.TO) are up 3 to 4%.

George Weston (WN.TO) is rising more than 2.5%. The company reported adjusted net earnings of $453 million for the third quarter, an increase of $88 million , or 24.1% over the year-ago quarter.

Premium Brands Holdings Corporation (PBH.TO) is gaining 2.5%. Goeasy (GSY.TO), Royal Bank of Canada (RY.TO) and WSP Global (WSP.TO) are also notably higher.

In economic news, preliminary estimates showed retail sales in Canada likely jumped by 1.5% month-over-month in October of 2022. Retail sales increased 6.9% in September of 2022 over the same month in the previous year.

Wholesale sales in Canada rose 1.3% from a month earlier in October 2022, following a meager 0.1% advance in September and easily beating market expectations of a 0.4% growth, a preliminary estimate showed.

Meanwhile, new home prices for Canada were down by 0.2% from a month earlier in October of 2022, following a 0.1% decline in September. New home prices increased by 5.1% from a year earlier in October 2022, easing from a 6.3% gain in September. It was the softest reading since December 2020.

Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.

RTTNews | 30 분 전

European Stocks Close Mostly Weak As Investors React To Earnings

European markets closed mostly lower on Thursday as investors reacted to a slew of earnings announcements and digested the latest batch of economic data from the region, and also followed the developments on the trade front.

RTTNews | 1 시간 0 분 전

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.

RTTNews | 3 시간 48 분 전

German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

RTTNews | 4 시간 31 분 전

U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.

RTTNews | 4 시간 39 분 전