Canadian Market Modestly Higher As Cannabis, Energy Stocks Rally

RTTNews | 1022 hari yang lalu

(RTTNews) - Despite paring some early gains, the Canadian market remains in positive territory in late morning trades on Friday thanks to strong gains in healthcare, energy, technology and real estate sectors.

The mood is a bit bullish amid hopes the Federal Reserve will slow the pace of its interest rate hikes after data on Thursday showed consumer prices in the U.S. saw a smaller than expected increase in the month of October.

The benchmark S&P/TSX Composite Index is up 77.51 points or about 0.4% at 20,067.87 about half an hour before noon. The index climbed to a high of 20,169.79 earlier in the session.

Aurora Cannabis (ACB.TO) is up 12.5% on huge volumes. Canopy Growth Corporation (WEED.TO) is gaining 7% and Tilray Brands Inc. (TLRY.TO) is rising nearly 5%.

Shopify Inc (SHOP.TO) is up nearly 7%. Crescent Point Energy (CPG.TO), Cenovus Energy (CVE.TO), First Quantum Minerals (FM.TO), Baytex Energy (BTE.TO), Tamarack Valley Energy (TVE.TO), Vermilion Energy (VET.TO) and Whitecap Resources (WCP.TO) are up 2.5 to 5%.

Altus Group Limited (AIF.TO) shares are soaring more than 14%. Colliers International (CIGI.TO), Teck Resources (TECK.B.TO), Canadian Tire Corporation (CTC.A.TO), TFI International (TFII.TO), Kinaxis Inc (KXS.TO) and Magna International (MG.TO) are gaining 3 to 5%.

Hydro One Ltd. (H.TO) reported a net income of C$307 million for the quarter ended September 30, 2022, compared with net income of C$300 million a year ago. The stock is down 1.7%.

Algonquin Power & Utilities Corp. (AQN.TO) shares are plunging more than 17%. The company reported a net loss $195.2 million or $0.29 per share in the third quarter, sharply wider than $27.9 million or $0.05 per share in the prior-year quarter.

Onex Corporation (ONEX.TO) reported net loss of $180 million for the quarter ended September 30, 2022, as against a net profit of $602 million in the year-ago quarter. The stock is down by about 0.4%.

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

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Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | 1j 14min yang lalu

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | 1j 43min yang lalu

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 4j 27min yang lalu

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 4j 46min yang lalu

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 5j 29min yang lalu

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 5j 59min yang lalu

U.S. PCE Price Index Increased In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | 6j 11min yang lalu

EURUSD	1.16967	GBPUSD	1.35068	AUDUSD	0.6543
USDJPY	146.988	USDCAD	1.37313	USDCHF	0.7997