Bay Street Likely To Open Lower On Weak Commodity Prices

RTTNews | 1098日前

(RTTNews) - Lower crude oil and bullion prices point to a negative start for Canadian shares on Friday.

Investors are likely to react to a slew of earnings news, and economic data, as well for direction.

In earnings news, Yamana Gold Inc. (YRI.TO) reported that its third quarter net earnings declined to $19.8 million or $0.02 per share from $27.0 million or $0.03 per share in the prior year.

Adjusted net earnings were $44.5 million or $0.05 per share compared to $73.7 million or $0.08 per share in the prior year.

Fortis Inc. (FTS.TO) reported that its third-quarter net earnings attributable to equity shareholders was C$326 million or C$0.68 per share, compared to C$295 million or C$0.63 per share last year.

Imperial Oil Ltd. (IMO.TO) reported estimated net income in the third quarter of $2,031 million, compared to $2,409 million in the second quarter of 2022.

Air Canada (AC.TO) reported a net loss of $508 million in the third quarter of this financial year, compared to a net loss of $640 million a year ago.

On the economic front, final data on Canadian GDP for the month of August, and a preliminary reading of GDP for the month of September are due at 8:30 AM ET.

The Canadian market ended modestly higher on Thursday, led by gains in technology stocks.

The benchmark S&P/TSX Composite Index, which rose to a one-month high at 19,516.36 early on in the session, gave up most of its gains as the day progressed and finally settled at 19,352.11, up 72.35 points or 0.38% from the previous close.

Asian stocks ended broadly lower on Friday as investors digested the monetary policy announcements from the ECB and BoJ and looked ahead to next week's FOMC meeting for clues on whether a pivot on the pace of rate hikes is on the table.

After opening notably lower on weak results from U.S. tech majors and a few big-name European companies, European stocks are slowly regaining lost ground.

In commodities trading, West Texas Intermediate Crude oil futures for December are down $0.75 or 0.8% at $88.33 a barrel.

Gold futures are down $12.20 or 0.74% at $1,653.40 an ounce, while Silver futures are down $0.229 or 1.17% at $19.265 an ounce.

U.S. Dollar Advances Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Thursday.

RTTNews | 2時2分前

Swiss Market Settles Slightly Down

The Switzerland market ended slightly down on Thursday, after languishing in the red almost right through the day's session, with investors reacting to corporate earnings updates, and a report showing signs of an improved outlook in the Swiss economy.

RTTNews | 5時58分前

European Stocks Close On Mixed Note After Central Bank Decisions, Earnings Deluge

European stocks turned in a mixed performance on Thursday as investors reacted to a slew of corporate earnings announcements from the region, and digested the interest rate decisions of the Federal Reserve, the European Central Bank and the Bank of Japan.

RTTNews | 6時18分前

ECB Holds Interest Rates Steady Amid Uncertain Outlook

The European Central Bank maintained its key interest rates unchanged for a third policy session in a row on Thursday, as expected, as policymakers assessed that the outlook was broadly unchanged, but still uncertain due to global trade conflicts and geopolitical tensions.

RTTNews | 10時0分前

Eurozone GDP Growth Beats Expectations

The euro area economy expanded at a faster pace in the third quarter as France and Spain reported strong growth, while Germany and Italy experienced stagnation, amid a highly uncertain outlook due to the ongoing trade policies and political instability. Gross domestic product climbed 0.2 percent sequentially in the September quarter, preliminary flash estimate from Eurostat showed on Thursday.

RTTNews | 10時45分前

Bay Street Likely To Open Weak

Weak commodity prices, lower European stocks and U.S. and Canadian futures point to a negative start for the Canadian market on Thursday. The Federal Reserve and Bank of Canada lowered interest rates on Wednesday but have ruled out the possibility of another cut this year.

RTTNews | 11時37分前

German Economy Stagnates On Weaker Exports; Unemployment Falls

The German economy stagnated in the third quarter, narrowly dodging a recession as higher U.S. tariffs damped exports and the optimism about the fiscal stimulus faded, while unemployment logged an unexpected moderate fall. Gross domestic product remained unchanged, as expected, following a revised decline of 0.2 percent in the second quarter, the preliminary estimate from Destatis revealed on T

RTTNews | 11時40分前

FTSE 100 Moderately Lower; WPP Tanks On Lower Earnings, Forecast

The UK stock market is down in negative territory on Thursday, mirroring the trend in other major European markets, as investors react to the latest batch of earnings announcements from the domestic and global front, and some regional economic data.

RTTNews | 12時29分前

EURUSD	1.15743	GBPUSD	1.31588	AUDUSD	0.65563
USDJPY	153.929	USDCAD	1.39827	USDCHF	0.80156