Bay Street Likely To Open On Firm Note

RTTNews | 279 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.

Bay Street May Open On Positive Note Again

Canadian stocks may open higher on Wednesday amid optimism about an end to the U.S. government shutdown. Firm European stocks and expectations of an interest rate cut by the Federal Reserve next month may also help underpin sentiment.

RTTNews | 5h 1min ago

FTSE 100 Pares Early Gains; SSE Soars 12%

After opening marginally higher and moving up a bit subsequently, the U.K. market's FTSE 100 slipped into negative territory on Wednesday, with investors looking for direction and largely refraining from making significant moves.

RTTNews | 6h 18min ago

CAC 40 Extends Gains To 3rd Straight Day, Rises Over 1%

French stocks are up in positive territory on Wednesday, extending gains to a third straight session, led by gains in financial and luxury sectors. Expectations of an interest rate cut by the Federal Reserve next month, and hopes that the government shutdown in the U.S. will likely end this week help underpin sentiment.

RTTNews | 7h 16min ago