Bay Street Likely To Open On Firm Note

RTTNews | 838 hari yang lalu

(RTTNews) - Canadian shares look headed for a firm start Thursday morning, tracking positive European markets and higher commodity prices.

The market is also likely to gain amid easing fears about a U.S. recession this year. Investors will also be reacting a slew of earnings updates.

The Fed raised its interest rate by 25 basis points as widely expected. The decision to increase rates came as the Fed noted inflation remains elevated, while U.S. economic activity has been expanding at a moderate pace and job gains have been robust in recent months.

In his post-meeting press conference Fed Chair Jerome Powell said it is possible the central bank could raise rates again in September or hold steady, noting the central bank plans to take a meeting by meeting approach.

Cenovus Energy Inc. (CVE.TO) reported second-quarter net earnings of $866 million, compared with $636 million in the previous quarter.

Canadian Utilities Ltd. (CU.TO) reported adjusted net earnings of $100 million, or $0.37 per share for the second quarter, compared to $136 million, or $0.51 per share, in the second quarter of the previous year.

FirstService Corporation (FSV.TO) reported consolidated revenues of $1.12 billion for the second quarter, up 20% compared to consolidated revenues in the year-ago quarter.

ATCO Ltd. (ACO.TO) posted adjusted net earnings of $87 million ( $0.77 per share) in the second quarter, $5 million ($0.04 per share) lower compared to $92 million ($0.81 per share) in the second quarter of 2022.

On the economic front, a report from the Canadian Federation of Independent Business said Canada's CFIB Business Barometer long-term optimism index edged higher by 0.2 points from the previous month to 54.2 in July.

The Canadian market ended slightly up on Wednesday after a cautious session. Stocks turned in a mixed performance with investors reacting to quarterly earnings news, and the Federal Reserve's monetary policy statement.

The benchmark S&P/TSX Composite Index ended with a gain of 10.11 points or 0.05% at 20,561.64, after scaling a low of 20,492.43 and a high of 20,596.18 intraday.

Asian stocks gained on Thursday after the U.S. Federal Reserve reiterated its fight against inflation and Chair Jerome Powell said staff economists at the central bank no longer foresee a recession.

European stocks are notably higher with investors reacting to the Fed's interest rate decision and awaiting the ECB rate announcement. The mood is positive thanks to the Fed downplaying the prospect of a U.S. recession this year.

In commodities, West Texas Intermediate Crude oil futures are up $0.87 or 1.1% at $79.65 a barrel.

Gold futures are up $8.10 or 0.41% at $1,978.20 an ounce, while Silver futures are gaining $0.305 or 1.2% at $25.275 an ounce.

Bay Street May Open Higher Again

Canadian stocks may open higher on Tuesday, riding on firm commodity prices. The passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history, is likely to aid sentiment.

RTTNews | 1j 27min yang lalu

UK Unemployment Rate Highest Since 2021

The UK unemployment rate increased to the highest since early 2021 in the third quarter, raising chances of an interest rate cut, official data revealed on Tuesday. The ILO jobless rate rose to 5.0 percent in the third quarter from 4.8 percent in the three months to August, the Office for National Statistics said. The rate was above economists' forecast of 4.9 percent.

RTTNews | 2j 21min yang lalu

FTSE 100 Rises On Rate Cut Hopes; Vodafone Group Moves Up Sharply

U.K.'s FTSE 100 index has moved up sharply on Tuesday, amid hopes of a rate cut by the Bank of England next month after data showed an increase in the nation's unemployment rate in the third quarter. The passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history is also aiding sentiment.

RTTNews | 2j 38min yang lalu

CAC 40 Up 0.6%; Hermes International, LVMH Among Top Gainers

French stocks are up firmly in positive territory on Tuesday, extending gains from the previous session, following the passage of a short-term funding bill late Monday to end the longest government shutdown in U.S. history.

RTTNews | 3j 6min yang lalu

DAX Up Marginally As Mood Remains Positive After Passage Of U.S. Short-term Spending Bill

The German market is up in positive territory on Tuesday, as the undertone remains firm following the U.S. Senate passing a short-term funding bill late Monday to end the longest government shutdown in U.S, history.

RTTNews | 3j 30min yang lalu

German Economic Confidence Weakens In November

German economic confidence weakened moderately in November as investors became concerned about the ability of economic policies to address its key issues, a monthly survey conducted by the think tank ZEW showed Tuesday. The economic sentiment index fell unexpectedly to 38.5 in November from 39.3 in the previous month. The reading was forecast to rise to 41.0.

RTTNews | 4j 3min yang lalu

Senex, Nifty End Higher On Fed Rate Cut Hopes

Indian shares eked out modest gains on Tuesday, with trade deal hopes and expectations of Federal Reserve interest-rate cuts helping underpin investor sentiment.

RTTNews | 4j 54min yang lalu

European Shares Climb As US Senate Approves Deal To End Government Shutdown

European stocks hit a two-week high on Tuesday after the U.S. Senate passed a short-term funding bill to end the longest government shutdown in U.S, history. The bill will now be sent to the House, where a vote could come as early as Wednesday.

RTTNews | 6j 6min yang lalu

EURUSD	1.1594	GBPUSD	1.3164	AUDUSD	0.65318
USDJPY	153.864	USDCAD	1.40119	USDCHF	0.79973