Bay Street Likely To Open On Firm Note

RTTNews | 42 days ago

(RTTNews) - Canadian stocks look headed for a positive start Thursday morning, tracking firm European markets and higher crude oil prices amid slightly easing concerns about trade war and tariffs.

Investors are likely to focus on corporate earnings for direction.

Thomson Reuters Inc. (TRI.TO) reported adjusted EBITDA of $718 million for the quarter ended December 2024, up marginally compared to $707 million in the year-ago quarter.

BCE Inc. (BCE.TO) reported fourth-quarter net earnings of $505 million, up 16.1% compared to net earnings in the year-ago quarter.

Colliers International Group Inc (CIGI.TO) posted revenues of $1,501.6 million in the fourth-quarter of 2024, compared with $1,235.2 million in the fourth-quarter of 2023.

Bombardier Inc (BBD.B.TO) posted net income of $370 million in 2024, compared to $445 million in the previous year. Adjusted net income for 2024 came in at $547 million, compared to $416 million a year ago.

Calian Group In. (CGY.TO) has announced that it signed over $50 million in new and renewed multi-year defense contracts in its fiscal first quarter.

On the economic front, the Ivey Purchasing Managers Index score for the month of January is due at 10 AM ET. The Ivey Purchasing Managers Index in Canada rose to 54.7 in December 2024, up from 52.3 in November.

The Canadian market closed on a firm note on Wednesday with stocks from across several sectors as investors digested the latest batch of economic data and assessed the impact of US-China tensions on the global economy.

The benchmark S&P/TSX Composite Index settled with a gain of 290.49 points or 1.15% at 25,569.84, rising for the second consecutive day following the U.S. President Donald Trump agreeing to hold off tariffs against Canadian imports by a month.

Asian stocks rose broadly on Thursday as trade war fears eased and Treasury yields dipped on easing inflation concerns.

A softer dollar underpinned base metal prices and gold steadied near record high levels, while oil prices recovered some ground after falling nearly 2 percent in the previous session.

China's Shanghai Composite Index rallied 1.3 percent to 3,270.66 on eased concerns over a potential global trade war.

The U.S. Postal Service (USPS) has resumed accepting parcels from mainland China and Hong Kong, reversing a brief suspension triggered by new trade measures introduced by U.S. President Donald Trump.

European stocks are notably higher today with investors shrugging off concerns about tariffs and focusing on corporate earnings.

In commodities, West Texas Intermediate Crude oil futures are up $0.42 or 0.56% at $71.45 a barrel.

Gold futures are down $8.50 or 0.29% at $2,884.50 an ounce, while Silver futures are lower by $0.411 or 1.25% at $32.565 an ounce.

Swiss Market Ends On Firm Note After Choppy Session

The Switzerland market closed on a firm note on Thursday despite struggling for direction till about a couple of hours past noon, despite the Swiss National Bank lowering interest rate by 25 basis points.

RTTNews | 4h 39min ago

European Stocks Close Lower On Growth Worries

European stocks closed lower on Thursday on continued uncertainty about the outlook for global economic growth due to the trade war and rising tensions in the Middle East. Investors digested a slew of policy announcements from central banks, including the Bank of England.

RTTNews | 5h 5min ago

Canadian Market Down Marginally In Cautious Trade

Canadian shares are swinging between gains and losses in cautious trade on Thursday amid growing uncertainty about global economic growth due to escalating trade war. Investors are also closely following the political developments in Canada amid reports the Prime Minister Mark Carney may call a snap election in late April.

RTTNews | 5h 47min ago

U.S. Leading Economic Index Falls Slightly More Than Expected In February

A report released by the Conference Board on Thursday showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of February. The Conference Board said its leading economic index decreased by 0.3 percent in February after slipping by a revised 0.2 percent in January.

RTTNews | 7h 41min ago

U.S. Existing Home Sales Unexpectedly Surge 4.2% In February

After reporting a sharp pullback by U.S. existing home sales in the previous month, the National Association of Realtors released a report on Thursday showing existing home sales unexpectedly rebounded in the month of February. NAR said existing home sales surged by 4.2 percent to an annual rate of 4.26 million in February after tumbling by 4.7 percent to a revised rate of 4.09 million in January.

RTTNews | 8h 8min ago

Bank Of England Pauses Rate Cuts Amid Trade Tensions

The Bank of England paused its monetary easing on Thursday amid intensifying uncertainty over global trade policy and weak economic growth in the U.K. The nine-member Monetary Policy Committee, headed by BoE Governor Andrew Bailey, decided to maintain the Bank Rate at 4.5 percent, which was the lowest level since June 2023. Only Swati Dhingra, an external member of the committee, preferred a qu

RTTNews | 8h 34min ago

Philly Fed Index Extends Pullback But Still Indicates Growth In March

A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity expanded overall but was less widespread in the month of March. The Philly Fed said its diffusion index for current general activity slid to 12.5 in March after plunging to 18.1 in February, although a positive reading still indicates growth.

RTTNews | 9h 14min ago

U.S. Weekly Jobless Claims Inch Up To 223,000

First-time claims for U.S. unemployment benefits crept slightly higher in the week ended March 15th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims inched up to 223,000, an increase of 2,000 from the previous week's revised level of 221,000. Economists had expected jobless claims to rise to 224,000.

RTTNews | 9h 17min ago

EURUSD	1.08468	GBPUSD	1.29605	AUDUSD	0.63009
USDJPY	148.867	USDCAD	1.43291	USDCHF	0.88216

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Bay Street Likely To Open On Firm Note