Canadian Market Ends Modestly Higher

RTTNews | 10 days ago

(RTTNews) - The Canadian market ended modestly higher on Friday, led by gains in materials stocks as gold prices advanced on safe-haven buying. Stocks from the rest of the sectors turned in a mixed performance.

Investors reacted positively to some upbeat earnings updates from top U.S. companies, including Alphabet and Microsoft, and digested U.S. personal consumption expenditure (PCE) data that showed a larger than expected increase in annual consumer price growth.

The benchmark S&P/TSX Composite Index ended with a gain of 83.86 points or 0.38% at 21,969.24, after moving in a tight range between 21,907.48 and 21,997.95. The index gained about 0.5% in the week.

The Materials Capped Index climbed 1.69%. First Quantum Minerals (FM.TO) soared 12.5%. Ero Copper (ERO.TO) surged 8.1%, while Capstone Mining Corp (CS.TO), Hudbay Minerals (HBM.TO), Ivanhoe Mines (IVN.TO), Equinox Gold Corp (EQX.TO) and Filo Mining (FIL.TO) gained 5 to 7%.

Eldorado Gold (ELD.TO) climbed 2.82%. Eldorado reported adjusted net earnings of $55.2 million for the first quarter of 2024, compared to adjusted net earnings of $16.7 million in the year-ago quarter.

Precision Drilling Corp (PD.TO) gained more than 5%. Bombardier Inc (BBD.A.TO) gained 3.75%.

Dayforce Inc (DAY.TO), Thomson Reuters (TRI.TO) and Franco-Nevada Corporation (FNV.TO) ended higher by 2.5%, 1.3% and 1.1%, respectively.

TFI International (TFII.TO) ended down by 2.3%. The company reported first quarter net income of $92.8 million compared to $111.9 million in Q1 2023. Adjusted net income came in at $105.5 million in the first quarter of 2024, compared to $116.5 million a year earlier.

Spin Master Corp (TOY.TO) drifted down 2.6%. Bank of Montreal (BMO.TO), EQB Inc (EQB.TO), Cargojet (CJT.TO), Newmont Corporation (NGT.TO), FirstService Corporation (FSV.TO) and Dollarama Inc (DOL.TO) ended down by 1 to 2%.

In economic news, a report from the Canadian Federation of Independent Business said its business barometer in Canada, an index reflecting 12-month forward expectations for business performance in the country, dropped to 47.5 in April, from an upwardly revised 52.9 in the prior month.

Wholesale sales in Canada fell by 1.3% month-over-month in March, following zero change in February, preliminary estimates showed. The decrease was led by motor vehicle and motor vehicle parts and accessories subsector and the miscellaneous subsector.

Australian Dollar Falls After RBA Rate Decision

At 12:30 am ET in the Asian session on Tuesday, the Reserve Bank of Australia announced its monetary policy decision on interest rates. The central bank kept its benchmark lending rate unchanged at 4.35 percent, as widely expected.

RTTNews | 4h 38min ago

Australian Dollar Rises Ahead Of RBA Rate Decision

At 12:30 am ET in the Asian session on Tuesday, the Reserve Bank of Australia will announce its monetary policy decision on interest rates. The RBA is widely expected to keep its benchmark lending rate unchanged at 4.35 percent.

RTTNews | 4h 48min ago

Sensex, Nifty Marginally Higher In Early Trade; FMCG Stocks Rally

Indian shares were marginally higher on Tuesday amid optimism that the U.S. Federal Reserve may start cutting interest rates later this year.

RTTNews | 4h 58min ago

Asian Markets Trading Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from global markets overnight, on renewed optimism over the outlook for interest rates, with traders growing increasingly confident about a rate cut in the coming months and largely eliminating short-lived concerns the US Fed might actually consider raising rates. Asian markets closed mostly higher on Monday.

RTTNews | 5h 41min ago

Australia Retail Sales Slump 0.4% In March

The value of retail sales in Australia was down a seasonally adjusted 0.4 percent on month in March, the Australian Bureau of Statistics said on Tuesday - coming in at A$35.663 billion.

RTTNews | 6h 38min ago

Japanese Market Significantly Higher

Recouping the losses in the previous two sessions, the Japanese stock market is significantly higher in post-holiday trading on Tuesday, with the Nikkei 225 moving well above the 38,600 level, following the broadly positive cues from global markets overnight, with gains across most sectors led by Index heavyweights and technology stocks.

RTTNews | 6h 46min ago

Sensex, Nifty Seen Opening On Flat Note

Indian shares are seen opening on a flat note Tuesday after some officials said interest rates were likely to remain unchanged in the near term.

RTTNews | 6h 48min ago

Thai Stock Market May Extend Friday's Gains

Ahead of Monday's holiday for Coronation Day, the Thai stock market has bounced higher again, one day after ending the two-day winning streak in which it had added almost 10 points or 0.7 percent. The Stock Exchange of Thailand now sits just beneath the 1,370-point plateau and it's likely to move higher again on Tuesday. The global forecast for the Asian markets is upbeat on renewed optimism over the outlook for interest rates. The European and U.S. markets were firmly higher and the Asian markets are predicted to open in similar fashion. The SET finished modestly higher on Friday as gains from the resource, service and technology stocks were tempered by weakness from the food and finance companies. For the day, the index added 6.67 points or 0.49 percent to finish at 1,369.92 after trading between 1,364.26 and 1,372.72. Volume was 12.500 billion shares worth 37.541 billion baht. There were 256 gainers and 190 decliners, with 217 stocks finishing unchanged. Among the actives, Thailand Airport rose 0.38 percent, while Bangkok Bank fell 0.37 percent, Bangkok Dusit Medical gathered 0.87 percent, Bangkok Expressway jumped 1.82 percent, B. Grimm spiked 2.91 percent, CP All Public sank 0.85 percent, Charoen Pokphand Foods dropped 0.98 percent, Energy Absolute rallied 2.48 percent, Gulf gained 0.61 percent, Krung Thai Bank collected 0.60 percent, Krung Thai Card climbed 1.17 percent, PTT Oil & Retail advanced 1.08 percent, PTT accelerated 1.50 percent, PTT Global Chemical increased 1.00 percent, Siam Concrete strengthened 1.62 percent, Thai Oil added 1.41 percent, True Corporation improved 1.24 percent and TTB Bank, Kasikornbank, Siam Commercial Bank, PTT Exploration and Production, SCG Packaging, Asset World, Advanced Info, Banpu and BTS Group were unchanged. The lead from Wall Street is broadly positive as the major averages opened higher on Monday and remained firmly in the green throughout the trading day.

RTTNews | 7h 12min ago

EURUSD	1.07676	GBPUSD	1.2554	AUDUSD	0.66064
USDJPY	154.454	USDCAD	1.36775	USDCHF	0.9067