Bay Street Seen Opening On Firm Note

RTTNews | 1135 hari yang lalu

(RTTNews) - Canadian shares look headed for a positive start Tuesday morning, tracking firm European markets and higher crude oil prices amid news China has eased Covid-19 restrictions in the country.

The Canadian market ended on a strong note on Monday, extending gains to a second straight session, after having hit a new 52-week low last Thursday.

Energy and materials shares led the market up north. Several stocks from utilities, consumer discretionary and financial sectors too closed with impressive gains. Technology stocks closed on a weak note.

The benchmark S&P/TSX Composite Index ended with a gain of 195.41 points or 1.03% at 19,258.32.

Asian stocks ended mostly higher on Tuesday after China announced changes to testing and quarantine rules in the first step towards easing border controls.

China's Shanghai Composite Index reversed an early slide to close 0.9% higher as health authorities cut the mandatory quarantine period for inbound visitors to 10 days from three weeks.

European stocks are up firmly in positive territory Tuesday afternoon, reacting positively to news China has cut quarantine time for international travelers, which marks a big step toward easing Covid-19 controls.

ECB President Christine Lagarde's comments at the Sintra Forum that played down fears of a recession in the euro zone contribute as well to the positive mood in the markets.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.80 or 1.63% at $111.37 a barrel.

Gold futures are up $1.90 or 0.1% at $1,826.70 an ounce, while Silver futures are gaining $0.087 or 0.41% at $21.255 an ounce.

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The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.

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FTSE 100 Modestly Higher; Hiscox Soars 9%

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CAC 40 Up In Positive Territory In Cautious Trade

The French market is modestly higher on Wednesday with corporate earnings announcements providing some direction. Despite data showing a sharp drop in French construction sector activity, and fresh concerns about tariffs following U.S. President Donald Trump's fresh tariff threat, the mood is a bit positive amid hopes the Fed will cut interest rate next month.

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EURUSD	1.16255	GBPUSD	1.33276	AUDUSD	0.64948
USDJPY	147.409	USDCAD	1.37509	USDCHF	0.80746

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Bay Street Seen Opening On Firm Note