Bay Street Likely To Open On Firm Note

RTTNews | 313 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.

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market moves on Wednesday, but extends the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 falling below the 8,600 level, with weakness in financial and energy stocks partially offset by gains in mining and technology stocks.

RTTNews | 1h 24min ago

Asian Markets Trade Mixed

Asian stock markets trade mixed on Wednesday, following the mixed cues from Wall Street overnight, after the release of sluggish US jobs data failed to boost expectations for further interest rate cuts by the US Fed. Data showed stronger than expected job growth in November, but the increase followed a notable loss of jobs in October. Asian markets closed mostly lower on Tuesday.

RTTNews | 1h 30min ago

Indian Shares Set For Lackluster Open On Muted Global Cues

Indian shares are seen opening on a flat note on Wednesday after new data showed the U.S. jobs market remains sluggish but not quickly deteriorating.

RTTNews | 2h 10min ago

Thai Stock Market May Extend Tuesday's Losses

The Thai stock market on Tuesday ended the two-day winning streak in which it had climbed almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,260-point plateau and it may take further damage on Wednesday.

RTTNews | 2h 51min ago

U.S. Dollar Drops Against Most Majors

The U.S. dollar dropped against its most major counterparts in the New York session on Tuesday.

RTTNews | 2h 52min ago

Indonesia Shares Expected To Remain Rangebound

The Indonesia stock market has alternated between positive and negative finishes through the last 10 trading days since the end of the two-day winning streak in which it had picked up almost 110 points or 1.3 percent. The Jakarta Composite Index now sits just beneath the 8,690-point plateau although it's likely to hand back those gains on Wednesday.

RTTNews | 3h 21min ago

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Wednesday, extending the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling below the 49,300 level, with weakness in exporters and a mixed performance across most other sectors.

RTTNews | 3h 34min ago

Mild Upside Seen For Hong Kong Stock Market

The Hong Kong stock market has finished lower in two straight sessions, sinking more than 740 points or 2.8 percent along the way. The Hang Seng Index now sits just above the 25,230-point plateau although it may tick higher on Wednesday.

RTTNews | 3h 36min ago

EURUSD	1.17384	GBPUSD	1.34093	AUDUSD	0.66259
USDJPY	154.898	USDCAD	1.37664	USDCHF	0.79562