Canadian Market Modestly Higher; Spin Master Rises 7%

RTTNews | vor 670 Tagen

(RTTNews) - The Canadian market is up in positive territory Wednesday afternoon, led by gains in communications, consumer discretionary, financials and utilities sectors.

The mood, however, remains cautious with investors awaiting crucial U.S. inflation.

The benchmark S&P/TSX Composite Index is up 87 points or 0.45% at 19,588.20.

Communications shares Cogeco Communications (CCA.TO) and Quebecor Inc (QBR.B.TO) are up 5% and 2.4%, respectively.

Consumer discretionary stock Spin Master Corp (TOY.TO) is climbing nearly 7%. The company said it has agreed to buy U.S.-based toy maker Melissa & Doug for $950 million in cash.

MTY Food Group Inc. (MTY.TO) shares are down more than 4% despite reporting higher earnings. The company reported third-quarter net income of $38.9 million or $1.59 per diluted share, compared to $22.4 million, or $0.92 per diluted share in the third quarter of the previous financial year.

Utilities shares Fortis Inc (FTS.TO), Algonquin Power and Utilities Corp (AQN.TO), Innergex Renewables (INE.TO), Hydro One (H.TO), Transalta Renewables (RNW.TO) and Altagas (ALA.TO) are up 1 to 1.6%.

In the financials sector, Sun Life Financial (SLF.TO), Fairfax Financial Holdings (FFH.TO), Manulife Financial (MFC.TO) and Toronto-Dominion Bank (TD.TO) are up 1 to 1.5%.

On the economic front, data from Statistics Canada showed the total value of building permits in Canada rose by 3.4% from a month earlier to $11.9 billion in August 2023, rebounding from an upwardly revised 3.8% drop in the prior month.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic confidence from Germany are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK unemployment data. The jobless rate is forecast to remain unchanged at 4.7 percent in the second quarter. At 3.00 am ET, retail sales figures are due from Turkey.

RTTNews | vor 18 Minuten

Sensex, Nifty Slightly Higher In Early Trade

Indian shares were slightly higher on Tuesday despite mixed cues from global markets.

RTTNews | vor 1Std 8 Minuten

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, but extending the gains in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level to fresh all-time high, with gains in financial and energy stocks partially offset by weakness in mining and technology stocks.

RTTNews | vor 1Std 55 Minuten

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, despite the broadly negative cues from Wall Street overnight, with the Australian and the Japanese markets hitting record all-time highs, as the U.S. and China agreed to extend their tariff truce for another 90 days. Optimism about the US Fed cutting interest rate at its next meeting is also aiding market sentiment.

RTTNews | vor 2Std 33 Minuten

Sensex, Nifty Set For Muted Open On Mixed Global Cues

Indian shares are seen opening flat to slightly lower on Tuesday after rising sharply in the previous session as the announcement of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump has fueled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.

RTTNews | vor 3Std 5 Minuten

Japanese Market Sharply Higher; Up 2%

The Japanese stock market is trading sharply higher on Tuesday, extending the gains in the previous five sessions, despite the broadly negative cues from Wall Street overnight, with the Nikkei 225 surging over 2 percent near the 42,700 level to record all-time highs, with gains across all sectors led by index heavyweights, technology and financial stocks.

RTTNews | vor 3Std 59 Minuten

Indonesia Stock Market May Be Stuck In Neutral On Tuesday

The Indonesia stock market has tracked higher in back-to-back sessions, improving more than 115 points or 15 percent along the way. The Jakarta Composite Index now sits just above the 7,600-point plateau although it's expected to open in the red on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | vor 4Std 7 Minuten

Renewed Consolidation Likely For Hong Kong Stock Market

The Hong Kong stock market moved higher again on Monday, one session after snapping the four-day winning streak in which it had rallied more than 570 points or 2.4 percent. The Hang Seng Index now rests just above the 24,900-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | vor 4Std 22 Minuten

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