Canadian Market In Positive Territory As Investors React To Earnings

RTTNews | 544 gün önce

(RTTNews) - The Canadian market got off to a slightly positive start and moved further up in early trades Friday morning thanks to gains in energy and technology stocks.

Optimism about an interest rate cut by the Federal Reserve in June, and higher crude oil and gold prices are aiding sentiment.

Investors are also reacting to quarterly earnings announcements.

The benchmark S&P/TSX Composite Index, which advanced to 21,493.66 after opening at 21,394.23, was up 56.41 points or 0.26% at 21,420.02 a little while ago.

On the economic front, data showed the manufacturing activity contracted for a tenth straight month in February, although at the slowest pace in the current sequence. The S&P Global Canada Manufacturing PMI rose to 49.7 in February, from 48.3 in the previous month.

SNC Lavalin Inc (ATRL.TO) shares are up 8.7% after the company reported fourth-quarter adjusted net income of $79.5 million, or $0.45 per diluted share, compared to an adjusted net loss of $32.5 million , or $(0.19) per diluted share in Q4 2022.

Ensign Energy Services Inc (ESI.TO) is soaring 11% after the company said its net income for 2023 was $41.2 million, up from $8.1 million in 2022.

Boralex Inc (BLX.TO) is down 1.6% after the company reported net earnings of $58 million for the fourth quarter of 2023, and $115 million for the full-year, compared to a net loss of $7 million in the fourth quarter of 2022, and $8 million in financial year 2022.

Denison Mines Corp. (DML.TO) is up nearly 1%. The company reported earnings per share from continuing operations of C$0.11 for the year ended December 31, 2023, representing a 450% increase from the 2022 EPS of C$0.02. A C$134.2 million fair value gain on its investments in physical uranium boosted the company's 2023 earnings from continuing operations to C$89.4 million or C$0.11 per share.

Canadian Western Bank (CWB.TO) is down 4.2% after the bank reported a net income of $88 million for the three months ended January 31, 2024, down 7% from the corresponding period last year.

Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.

RTTNews | 35 dakika önce

European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.

RTTNews | 36 dakika önce

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | 2s 2 dakika önce

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.

RTTNews | 2s 17 dakika önce

Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect

Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.

RTTNews | 2s 48 dakika önce

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.

RTTNews | 2s 59 dakika önce

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

RTTNews | 3s 8 dakika önce

Thai Bourse May Halt Losing Streak On Thursday

The Thai stock market has moved lower in back-to-back sessions, slipping almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,250-point plateau although it may stop the bleeding on Thursday.

RTTNews | 3s 16 dakika önce

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