Bay Street Likely To Open On Positive Note

RTTNews | vor 1115 Tagen

(RTTNews) - Canadian shares are likely to open higher, tracking firm crude oil prices, and amid hopes the Fed's interest rate move at its September meeting will be less aggressive thanks to fairly encouraging inflation data.

Activity may well remain stock specific with investors reacting to quarterly earnings announcements.

Pan American Silver Corp. (PAAS.TO) reported a second quarter net loss of $173.6 million or $0.83 per basic share, compared to net income of $71.24 million or $0.34 per basic share in the prior year.

Africa Oil Corp. (AOI.TO) reported that its second quarter net income dropped to $5.65 million or $0.01 per share from $38.38 million or $0.08 per share in the prior year.

Primo Water Corp. (PRMW.TO) reported second-quarter net loss of $23 million or $0.14 per share, wider than last year's net loss of $8 million or $0.05 per share.

Brookfield Asset Management Inc. (BAM) announced that its second -quarter net income attributable to common shareholders was $590 million, compared to $816 million a year ago. Net income per share was $0.34, down from $0.49 last year.

Canadian Tire Corporation Limited (CTC.TO) reported net income of $177.6 million for the second quarter of the current financial year, down from $395.2 million in the year-ago quarter.

The Canadian market ended sharply higher on Wednesday as investors picked up stocks across the board, reacting positively to data from U.S. Labor Department that showed consumer prices came in flat in the month of July. The tamer than expected inflation data has led to speculation that the Federal Reserve will slow the pace of interest rate hikes at its September meeting.

The benchmark S&P/TSX Composite Index with a gain of 307.64 points or 1.57% at 19,885.94, slightly off the day's high of 19,911.02.

Asian stocks followed Wall Street higher on Thursday, buoyed by data showing U.S. inflation cooled more than expected in July. Japanese markets were closed for a holiday.

European stocks are turning in a mixed performance with investors digesting the latest batch of earnings announcements, and assessing U.S. inflation data.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.95 or 1.02% at $92.88 a barrel.

Gold futures are down $1.10 or 0.06% at $1,812.60 an ounce, while Silver futures are down $0.147 or 0.71% at $20.595 an ounce.

U.S. Dollar Falls Against Most Majors

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

RTTNews | vor 1 Tagen

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.

RTTNews | vor 1 Tagen

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

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Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

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European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | vor 1 Tagen

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

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Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

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U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | vor 1 Tagen

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