Canadian Market Up Marginally At Noon

RTTNews | 873 hari yang lalu
Canadian Market Up Marginally At Noon

(RTTNews) - The Canadian market is up marginally around noon on Tuesday with investors largely refraining from making significant moves despite data showing a drop in Canadian consumer price inflation in the month of December.

Energy, industrials, utilities and communications shares are among the notable gainers. Materials shares are weak, while shares from other sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index is up 33.28 points or 0.16% at 20,423.61 a little before noon.

Data from Statistics Canada showed Canada's annual inflation rate fell to 6.3% in December of 2022, the least since February 2022 and below market expectations of 6.4%, compared to the 6.8% in November and further declining from the 1983-high of 8.1% from June.

On a monthly basis, the Canadian CPI declined by 0.6%, the most since April 2020.

The core consumer price inflation in Canada, which excludes volatile items and the effect of indirect taxes, eased to 5.4 percent year-on-year in December 2022, down from 5.8 percent in the previous month. It was the lowest rate since February.

Housing starts in Canada declined 5% over a month earlier to 248,625 units in December of 2022, below market expectations of 257,500 units, according to the Canada Mortgage and Housing Corporation (CHMC).

Energy stocks Tamarack Valley Energy (TVE.TO), MEG Energy Corp (MEG.TO), Arc Resources (ARX.TO), Tourmaline Oil Corp (TOU.TO), Nuvista Energy (NVA.TO) and Africa Oil Corp (AOI.TO) are up 2 to 3.15%.

In the industrials section, Bombardier Inc (BBD.B.TO) is climbing nearly 5%. Cargojet (CJT.TO), Canadian Pacific Railway (CP.TO), Snc-Lavalin (SNC.TO), Badger Infrastructure Solutions (BDGI.TO), Richie Bros. Auctioneers (RBA.TO) and Thomson Reuters (TRI.TO) are up 1 to 2%.

Utilities stock Algonquin Power and Utilities Corp (AQN.TO) is up 4.8%. Hydro One (H.TO), Northland Power (NPI.TO) and Brookfield Infra Partners (BIP.UN.TO) are gaining 1 to 1.2%.

Communications stock Telus Corp (T.TO) is up nearly 1.5%. Rogers Communications Inc (RCI.B.TO) and Shaw Communications (SJR.B.TO) both are gaining about 0.6%.

read more
DAX Down Over 0.5% In Cautious Trade

DAX Down Over 0.5% In Cautious Trade

German stocks are down in negative territory on Monday as investors make cautious moves while awaiting crucial talks between U.S. and Chinese officials in London later in the day. The discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.
RTTNews | 27 minit yang lalu
Church & Dwight Recalls All Lots Of Zicam Nasal, Orajel Teething Swabs

Church & Dwight Recalls All Lots Of Zicam Nasal, Orajel Teething Swabs

Church & Dwight Co., Inc. has called back all lots of Zicam nasal swabs and Orajel baby teething swabs citing potential microbial contamination, according to the U.S. Food and Drug Administration. Cold remedy nasal swabs are a zinc-free, homeopathic cold remedy swab designed to shorten the duration of the common cold
RTTNews | 1j 5min yang lalu
Yen Rises After Japan GDP Data

Yen Rises After Japan GDP Data

The Japanese yen strengthened against other major currencies in the Asian session on Monday, after data showed that an upward revision to Japan's first quarter GDP supporting the interest rate hike expectations.
RTTNews | 3j 9min yang lalu
China Consumer Prices Fall For Fourth Month; Exports Rise

China Consumer Prices Fall For Fourth Month; Exports Rise

China's consumer prices declined for the fourth consecutive month and the decline in producer prices worsened in May, deepening deflation worries among policymakers as domestic demand remained weak despite taking enormous measures to boost consumption. Another report showed an increase in exports in May despite a sharp decline in shipments to the US due to trade tariff uncertainties.
RTTNews | 3j 41min yang lalu
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Monday.
RTTNews | 4j 11min yang lalu