Bay Street Likely To Open On Positive Note

RTTNews | 83 ngày trước

(RTTNews) - Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.

The market is also likely to react positively to news about U.S. and Ukraine agreeing on a minerals deal. U.S. President Donald Trump's $4.5 trillion tax-cut and border security agenda may also lift sentiment. The agenda will be sent to the U.S. Senate after passing the Republican-controlled House of Representatives.

The National Bank of Canada reported first-quarter net income of $997 million, up 8% from $922 million in the first quarter of 2024. First-quarter diluted earnings per share stood at $2.78 compared to $2.59 in the first quarter of 2024.

George Weston Ltd. (WN.TO) reported adjusted net earnings of $415 million for the fourth-quarter of 2024, an increase of $73 million, or 21.3%, compared to earnings in the year-ago quarter.

The Canadian market closed higher on Tuesday as a firm show by Bank of Montreal thanks to encouraging results, and gains in consumer staples and real estate sectors outweighed weakness in energy, materials and technology sectors.

Worries about imminent tariffs by Trump administration limited the market's upside.

The benchmark S&P/TSX Composite Index closed up 52.72 points or 0.21% at 25,203.98, recovering well from an early low of 24,946.06.

Asian markets ended mixed on Wednesday as inflation and trade war fears offset Chinese AI optimism.

Tariff worries prevailed as U.S. President Donald Trump ordered a probe into potential tariffs on copper imports to boost U.S. production of the critical metal.

Treasury yields rebounded but the dollar remained undermined by growth worries. Gold lingered near one-week lows despite rising bets on earlier Fed rate cuts.

European stocks are up firmly in positive territory with investors reacting to earnings updates and news about U.S. and Ukraine agreeing on a minerals deal

In commodities, West Texas Intermediate crude oil futures are down $0.19 or 0.27% at $68.74 a barrel.

Gold futures are gaining $9.70 or 0.33% at $2,928.70 an ounce, while Silver futures are up $0.319 or 1% at $32.145 an ounce.

Canadian Dollar Rises As Inflation Climbs

The Canadian dollar advanced against its most major counterparts in the New York session on Tuesday, after a data showed that inflation accelerated in April.

RTTNews | 56 phút trước

Swiss Market Ends Modestly Higher

The Switzerland market suffered a mild setback in early trades on Tuesday, but recovered soon and then stayed firm right till the end of the session to finish with a modest gain. Investors tracked corporate news and the developments on the geopolitical front.

RTTNews | 1h 45phút trước

European Stocks Recover After Weak Start, Close Broadly Higher

European stocks closed broadly higher on Tuesday amid easing tariff worries, and expectations that Russia and Ukraine would soon begin ceasefire negotiations. The UK-EU trade agreement on Monday contributed as well to the positive mood in European markets.

RTTNews | 2h 5phút trước

TSX Extends Gains To 10th Straight Session, Hits New Record High

Canadian shares are up in positive territory Tuesday morning, extending gains to a tenth straight session, amid easing concerns about tariffs, and some brisk buying in gold stocks on safe-haven appeal following Moody's downgrading U.S. credit rating, citing debt concerns. Investors are also digesting a report showing a drop in Canada's annual inflation rate.

RTTNews | 3h 36phút trước

Honda Cuts EV Sales, Investment Targets As It Shifts Focus

Honda Motor Co., Ltd. announced Tuesday that it is realigning automobile business strategy, with a cut in planned electric vehicle or EV sales ratio, and investment for automobile electrification due to the recent market slowdown. Meanwhile, Honda expects a minimal increase in investment related to Hybrid Electric Vehicle or HEV business.

RTTNews | 4h 36phút trước