TSX Rises To 1-month High; Shopify Soars Nearly 17% On Results

RTTNews | 1032 일 전

(RTTNews) - The Canadian market is up in positive territory in late morning trade on Thursday with technology and energy stocks turning in a good performance.

Consumer discretionary and utilities stocks are also finding good support. Healthcare stocks are down on profit taking. Shares from consumer staples, financials, materials and industrials sectors are mixed.

The benchmark S&P/TSX Composite Index rose to a one-month high as it climbed to 19,516.36 earlier this morning. The index is up 130.50 or 0.7% 19,410.26, about less than half an hour before noon.

The Information Technology Capped Index is up 4.2%. Shopify Inc (SHOP.TO) is soaring nearly 17% after the company reported a smaller-than-expected loss in the latest quarter. Shopify reported adjusted net loss of $30 million in the third quarter of this financial year, compared with adjusted net income of $102.8 million in the year-ago quarter. The company was expected to post adjusted net loss of $0.08 per share.

Tecsys Inc (TCS.TO) is surging 4%, while Magnet Forensics (MAGT.TO), Quarterhill (QTRH.TO), Nuvei Corp (NVEI.TO), Hut 8 Mining (HUT.TO), BlackBerry (BB.TO) and Constellation Software (CSU.TO) are up 1 to 3%.

Tamarack Valley Energy (TVE.TO), up nearly 5%, is the top gainer in the Energy Index. Crescent Point Energy (CPG.TO) is up nearly 4% and Vermilion Energy (VET.TO) is gaining 3.5%. Nuvista Energy (NVA.TO), Baytex Energy (BTE.TO), Secure Energy (SES.TO), Imperial Oil (IMO.TO), Cenovus Energy (CVE.TO) and Athabasca Oil Corp (ATH.TO) are also up sharply.

TELUS Corp. (T.TO) and TELUS International (TIXT.TO) announced an agreement to acquire WillowTree, a full-service digital product provider focused on end user experiences. TELUS International will acquire WillowTree for a total enterprise value of $1.225 billion, inclusive of $210 million of assumed debt. The majority stakeholder Insignia Capital Group will sell its stake in WillowTree.

Telus Corp shares are up marginally, while Telus International is declining more than 4%.

Cameco Corporation (CCO.TO) reported adjusted net earnings of $10 million for the quarter ended September 2022, as against adjusted net loss of $54 million in the year-ago quarter. The stock is down marginally.

Atco Limited (ACO.X.TO) announced third quarter 2022 adjusted earnings of $87 million ($0.76 per share), compared to $69 million ( 0.60 per share) in the third quarter of 2021. Atco shares are gaining about 2.3%.

In economic news, a report from the Canadian Federation of Independent Business, Canada's CFIB's Business Barometer long-term optimism index, which is based on a 12-month outlook, fell to 51.4 in October of 2022 from a downwardly revised 52.4 in September, the lowest since April 2020.

Data from Statistics Canada showed average weekly earnings of non-farm payroll employees in Canada rose for the 15th consecutive month, surging by 3.2% year-on-year to C$ 1,170.14 in August of 2022.

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, on an improved outlook for interest rates after US Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole on Friday. Powell said economic risks are 'shifting' and a rate cut may be warranted. Asian markets closed mixed on Friday.

RTTNews | 14 분 전

Sensex, Nifty Seen Higher On Dovish Fed Comments

Indian shares are seen opening higher on Monday as traders react to Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole.

RTTNews | 53 분 전

Thai Shares Tipped To Open To The Upside On Monday

The Thai stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had slumped more than 40 points or 3.5 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau and it's poised to extend its gains on Monday.

RTTNews | 1 시간 23 분 전

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Monday, extending the gains in the previous session, following the broadly positive cues from Wall Street on Friday, with the Nikkei 225 moving well above the 42,850 level, with gains across most sectors led by index heavyweights and technology stocks.

RTTNews | 1 시간 35 분 전

Indonesia Stock Market May End Losing Streak On Monday

The Indonesia stock market has moved lower in two straight sessions, slipping almost 85 points or 1.1 percent along the way. The Jakarta Composite Index now sits just shy of the 7,860-point plateau although it's likely to stop the bleeding on Monday.

RTTNews | 1 시간 53 분 전

Australian Market Notably Higher

The Australian stock market is notably higher on Monday, recouping the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 9,000.00 mark, with gains across most sectors led by mining and technology stocks. Financial stocks were the only weal spot.

RTTNews | 1 시간 54 분 전

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the four-day losing streak in which it had fallen more than 480 points or 1.7 percent. The Hang Seng Index now rests just beneath the 25,340-point plateau and it's expected to open higher again on Monday.

RTTNews | 2 시간 8 분 전

China Stock Market May Extend Winning Streak

The China stock market has moved higher in three straight sessions, advancing almost 100 points or 2.9 percent along the way. The Shanghai Composite Index now sits just above the 3,825-point plateau and it's expected to add to its winnings again on Monday.

RTTNews | 2 시간 23 분 전

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