TSX Snaps 5-day Losing Streak, Ends Modestly Higher

RTTNews | 1225 hari yang lalu
TSX Snaps 5-day Losing Streak, Ends Modestly Higher

(RTTNews) - The Canadian market ended modestly higher on Wednesday, led by gains in healthcare, technology and consumer discretionary sectors.

After opening on a firm note, the market pared some gains and moved slightly above the unchanged line till around mid afternoon when it briefly slipped into the red after the Fed announced a 75-basis point interest rate hike.

The Fed revealed that it has decided to raise the target rate for the federal funds rate by 75 basis points to 1.50 to 1.75%, marking the biggest rate hike since 1994.

The move comes as a recent report from the Labor Department showed consumer price inflation at the fastest annual rate in forty years.

The benchmark S&P/TSX Composite Index ended with a gain of 63.05 points or 0.32% at 19,611.56, after scaling a low of 19,383.69 and a high of 19,743.36 intraday.

The Health Care Capped Index climbed 3.05%. Bausch Health Companies (BHC.TO) and Canopy Growth Corp (WEED.TO) gained 5.4% and 5.1%, respectively. Cronos Group (CRON.TO) gained 3.8% and Aurora Cannabis (ACB.TO) ended 2.4% up.

In the technology section, Shopify Inc (SHOP.TO) and Lightspeed Commerce (LSPD.TO) climbed about 7% and 5.75%, respectively. BlackBerry (BB.TO), Nuvei Corp (NVEI.TO), Softchoice Corp (SFTC.TO), Sierra Wireless (SW.TO), Kinaxis Inc (KXS.TO) and Magnet Forensics (MAGT.TO) gained 3 to 7%.

Consumer discretionary stocks Magna International (MG.TO), Martinrea International (MRE.TO), Linamar Corp (LNR.TO), Sleep Country Canada Holdings (ZZZ.TO), BRP Inc (DOO.TO) and Park Lawn Corp (PLC.TO) moved up 2 to 4%.

Real estate stocks First Capital, Dream Industrial, Killam Apartment, Riocan Real Estate and Summit Industrial Income gained 1.7 to 2.7%.

Energy stocks Cenovus Energy (CVE.TO), Baytex Energy (BTE.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Imperial Oil (IMO.TO) and Crescent Point Energy (CPG.TO) declined sharply.

On the Canadian economic front, data from the Canada Mortgage and Housing Corporation showed housing starts in the country jumped by 8% over a month earlier to 267,330 units in April 2022.

read more
Rally May Stall For Singapore Stock Market

Rally May Stall For Singapore Stock Market

The Singapore stock market has moved higher in back-to-back sessions, collecting more than 65 points or 1.5 percent along the way. The Straits Times Index now rests just above the 4,390-point plateau although it may run out of steam on Thursday.
RTTNews | 26 minit yang lalu
Malaysia Bourse May Give Up Support At 1,600 Points

Malaysia Bourse May Give Up Support At 1,600 Points

The Malaysia stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had picked up less than a point. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's likely to extend its losses on Thursday.
RTTNews | 56 minit yang lalu
Losses May Accelerate For Japan Stock Market

Losses May Accelerate For Japan Stock Market

The Japanese stock market on Wednesday ended the two-day winning streak in which it had surged more than 1,730 points or 3.4 percent. The Nikkei 225 now sits just above the 49,300-point plateau and it may take further damage on Thursday.
RTTNews | 1j 11min yang lalu
South Korea Shares Overdue For Profit Taking

South Korea Shares Overdue For Profit Taking

The South Korea stock market has tracked higher in six straight sessions, accelerating more than 320 points or 8.6 percent in that span. Now at another fresh record closing high, the KOSPI rests just above the 3,880-point plateau although investors figure to lock in gains on Thursday.
RTTNews | 1j 26min yang lalu
South Korea Rate Decision On Tap For Thursday

South Korea Rate Decision On Tap For Thursday

The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate steady at 2.50 percent.
RTTNews | 2j 26min yang lalu
Swiss Market Ends Slightly Weak

Swiss Market Ends Slightly Weak

The Switzerland market edged down marginally on Wednesday after a cautious session, as investors looked for directional clues.
RTTNews | 6j 16min yang lalu
Major European Markets Close Weak; UK Market Outperforms

Major European Markets Close Weak; UK Market Outperforms

The major European markets closed mostly lower on Wednesday as investors reacted to earnings updates and other corporate news, in addition to following the developments on the trade front and digesting geopolitical news.
RTTNews | 6j 50min yang lalu