Bay Street Likely To Open On Mixed Note

RTTNews | 137 days ago
Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian stocks are likely to open on a mixed note Wednesday morning with investors tracking commodity prices and reacting to a quarterly earnings announcements. Worries about fresh tariff threats by U.S. President Donald Trump are likely to weigh on sentiment.

Loblaw Companies Ltd (L.TO) announced that it will invest more than $10 billion into the Canadian economy by 2030, including $2.2 billion in 2025, which is expected to create 8,000 jobs over the years. The planned investments include construction of 80 new stores, renovation of more than 300 grocery and pharmacy locations, and continued development of the company's modernized supply chain.

Canadian Tire Corp. (CTC.TO) announced a definitive agreement to sell its Helly Hansen business to Kontoor Brands, Inc. (KTB) for $1.276 billion. The transaction is set to close in the second quarter of 2025.

Gildan Activewear, Inc. (GIL.TO) said it expects 2025 adjusted earnings in a range of $3.38 to $3.58 per share on a revenue decline in the mid-single-digit range. For the first quarter of fiscal 2025, the company said net sales are expected to be up low single digits year over year.

First Quantum Minerals Ltd. (FM.TO) announced offering of $750 million of senior notes. The company intends to use net proceeds from the offering together with cash on balance sheet, to partly repay its revolving credit facility, to fund the concurrent partial tender offer for its existing 6.875% senior notes due 2027.

The Canadian stock market closed on a firm note on Tuesday, supported by gains in materials, energy, industrials and financials sectors.

Investors digested Canadian inflation data, and a few quarterly earnings updates. Higher commodity prices triggered some strong buying at several counters in energy and materials sectors.

The benchmark S&P/TSX Composite Index, which climbed to a high of 25,668.94 intraday, ended the day's session with a gain of 165.61 points or 0.65% at 25,648.84.

Asian stocks ended mixed on Wednesday amid lingering tariff concerns and tense Russia-Ukraine negotiations. China's Shanghai Composite Index closed higher despite comments from U.S. President Donald Trump that the U.S. may impose tariffs of around 25% on pharmaceutical, automobile, and semiconductor imports.

European stocks are notably lower Wednesday afternoon, weighed down by some disappointing earnings updates, hot UK inflation data, and concerns about fresh tariff threats by the Trump Administration.

In commodities, West Texas Intermediate Crude oil futures are up $0.63 or 0.88% at $72.48 a barrel.

Gold futures are gaining $8.50 or 0.31% at $2,957.50 an ounce, while Silver futures are up $0.097 or 0.29% at $33.470 an ounce.

read more
UK House Prices Remain Flat In June: Halifax

UK House Prices Remain Flat In June: Halifax

UK house prices remained flat in June after falling last month as more first-time buyers returned to the market, data from the mortgage lender Halifax showed on Monday. House prices stagnated on a monthly basis, reversing May's 0.3 percent decrease. Prices were forecast to fall 0.1 percent. At the same time, annual growth in house prices softened to 2.5 percent from 2.6 percent in the preceding
RTTNews | 51 minutes ago
European Markets Seen Opening Mixed On Monday

European Markets Seen Opening Mixed On Monday

Stock markets in Europe are expected to open on a mixed note on Monday as relief at the extension of the tariff deadline to August 1 and warnings of fresh tariffs on countries that align with BRICS policies are both expected to sway sentiment.
RTTNews | 1h 59min ago
European Economic News Preview: Germany Industrial Output Data Due

European Economic News Preview: Germany Industrial Output Data Due

Industrial production from Germany and house prices from the UK are the top economic news due on Monday. At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production for May. Industrial production is forecast to fall 0.6 percent month-on-month, slower than the 1.4 percent decrease in April. In the meantime, UK Halifax house price data is due.
RTTNews | 2h 38min ago
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Monday, reversing the slight gains in the previous session, following the negative cues from European markets and lack of cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling below the 8,600.00 level, with weakness in gold miners and financial stocks and a mixed performance most other sectors.
RTTNews | 4h 33min ago
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Monday, following he broadly negative cues from European markets and lack of cues from Wall Street on Friday, amid ongoing concerns about U.S. tariffs after US President Donald Trump announced that his government will send letters to around 170 trading partners outlining new, simple unilateral tariffs that will take effect on August 1.
RTTNews | 5h 22min ago
Lower Open Anticipated For Thai Stock Market

Lower Open Anticipated For Thai Stock Market

The Thai stock market on Friday ended the four-day winning streak in which it had surged almost 50 points or 4.6 percent. The Stock Exchange of Thailand now sits just beneath the 1,120-point plateau and it's expected to see further downside on Monday.
RTTNews | 6h 3min ago
Indonesia Shares May Open In The Red On Monday

Indonesia Shares May Open In The Red On Monday

The Indonesia stock market has finished lower in four straight sessions, slumping more than 60 points or 0.9 percent along the way. The Jakarta Composite Index now sits just above the 6,865-point plateau and it's expected to open under pressure again on Monday.
RTTNews | 6h 33min ago
Japanese Market Notably Lower

Japanese Market Notably Lower

The Japanese stock market is trading notably lower on Monday, extending the slight losses in the previous session, following he broadly negative cues from European markets and lack of cues from Wall Street on Friday, with the Nikkei 225 falling below the 39,600 level, with weakness across most sectors led by index heavyweights, financial and technology stocks.
RTTNews | 6h 39min ago