TSX Sheds Nearly 1% On Growth Worries, U.S.-China Tensions

RTTNews | 1019 hari yang lalu

(RTTNews) - The Canadian market ended notably lower on Tuesday, led by sharp losses in materials and energy sectors. There were gains for technology and healthcare stocks, but the market remained in negative territory right through the day's session.

Worries about slowing global growth, and tensions between the U.S. and China due to U.S. House Speaker Nancy Pelosi's trip to Taiwan weighed on the market.

The benchmark S&P/TSX Composite Index ended with a loss of 187.59 points or 0.95% at 19,505.33, near the day's low of 19,486.68.

In addition to tracking global cues, investors also reacted to a slew of earnings announcements and other corporate news from Canadian companies.

The Materials Capped Index drifted down 2.31%. First Quantum Minerals (FM.TO) ended 8.25% down. Hudbay Minerals (HBM.TO), Capstone Mining Corp (CS.TO) and Lundin Mining (LUN.TO) lost 7 to 7.7%.

Ero Copper (ERO.TO) ended 7.2% down after reporting second-quarter net income of $24.1 million, compared to $84.0 million in the year-ago quarter.

The Energy Capped Index dropped 1.99%. Baytex Energy (BTE.TO), Paramount Resources (POU.TO), Imperial Oil (IMO.TO), PrairieSky Royalty (PSK.TO) and Tourmaline Oil Corp (TOU.TO) ended lower by 3.5 to 5.1%.

Technology stock Sierra Wireless (SW.TO) soared nearly 14%. The company confirmed that it has engaged in advanced talks for a potential acquisition by Semtech Corporation (SMTC), a semiconductor supplier, for $31 per share.

Shopify Inc (SHOP.TO) climbed about 9%. Lightspeed Commerce (LSPD.TO) surged 5.82%, while Alithya Corp (ALYA.TO), Nuvei Corp (NVEI.TO), BlackBerry (BB.TO) and Hut 8 Mining (HUT.TO) advanced 3 to 4.2%.

In the healthcare section, Aurora Cannabis (ACB.TO) rallied nearly 10%. Canopy Growth Corp (WEED.TO) climbed 8.85%, Tilray Inc (TLRY.TO) surged nearly 7% and Cronos Group (CRON.TO) closed with a gain of 4.7%.

Toronto-Dominion Bank (TD.TO) announced Tuesday its definitive agreement to acquire investment bank Cowen Inc. (COWN) in an all-cash transaction valued at $1.3 billion, or $39 for each share of Cowen stock. Toronto-Dominion Bank shares ended 0.41% down.

Air Canada (AC.TO) reported a net loss of $386 million or $1.60 per diluted share for the second quarter compared to a net loss of $1.165 billion or $3.31 per diluted share in the second quarter of 2021. The stock gained about 0.8%.

Sprott Inc. (SII.TO) shares declined more than 2.5% on weak results. The company reported net income of $0.8 million ($0.03 per share) for the second quarter, down 93%, or $10.3 million ($0.41 per share) from the quarter ended June 30, 2021.

On the Canadian economic front, Markit Economics released a report showing the S&P Global Canada Manufacturing PMI fell to 52.5 in July of 2022 from 54.6 in the previous month, marking the slowest growth rate in the sector since June of 2020.

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.

RTTNews | 1 hari yang lalu

Swiss Market Ends On Firm Note On Upbeat Industrial Production Data

After a positive start and a subsequent rise to higher levels Friday morning, the Switzerland market remained firm despite paring some gains, and ended the day's session on a bright note. Data showing a sharp jump in Swiss industrial production in the first-quarter aided sentiment.

RTTNews | 1 hari yang lalu

European Stocks Close Week On Positive Note

European stocks closed higher on Friday thanks to easing trade tensions following the announcement of the U.S.-China deal earlier in the week, and reports that the EU bloc's talks with the U.S. for a reduction in tariffs are making positive progress.

RTTNews | 1 hari yang lalu

Canadian Market Recovers After Weak Start; TSX Up Marginally

Canadian stocks are turning in a mixed performance a little past noon on Friday after recovering from an early setback. Investors appear to be making cautious moves after eight straight days of gains that saw the market climb to a new record high on Thursday.

RTTNews | 1 hari yang lalu

U.S. Consumer Sentiment Unexpectedly Continues To Deteriorate In May

Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.

RTTNews | 1 hari yang lalu

U.S. Import, Export Prices Unexpectedly Inch Higher In April

The Labor Department released a report on Friday unexpectedly showing modest increases by both U.S. import and export prices in the month of April. The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.

RTTNews | 1 hari yang lalu

U.S. Housing Starts Rebound Less Than Expected In April, Building Permits Pull Back Sharply

While the Commerce Department released a report on Friday showing a rebound by new residential construction in the U.S. in the month of April, the report also showed a substantial pullback by building permits during the month.

RTTNews | 1 hari yang lalu

Eurozone Trade Surplus Surges On Exports To US

The euro area trade surplus grew strongly in March as exports to the U.S increased sharply ahead of the expected increase in trade tariffs. The trade balance showed a surplus of EUR 36.8 billion compared to a EUR 22.8 billion surplus in the same period last year, Eurostat reported Friday.

RTTNews | 1 hari yang lalu

EURUSD	1.11549	GBPUSD	1.32809	AUDUSD	0.64069
USDJPY	145.873	USDCAD	1.39826	USDCHF	0.83882

Advertisement

TSX Sheds Nearly 1% On Growth Worries, U.S.-China Tensions