Canadian Market Modestly Lower At Noon; Energy, Cannabis Stocks Fall

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(RTTNews) - The Canadian market is slightly weak around noon on Wednesday, weighed down by losses in healthcare, energy and consumer discretionary sectors. The mood is cautious with investors digesting the latest batch of economic data from the U.S. and awaiting the Federal Reserve's monetary policy announcement.

On the Canadian economic front, the S&P Global Canada Manufacturing PMI dropped to 49.4 in April, decreasing by 0.4 points from the previous month, marking the twelfth consecutive month of contraction in the nation's manufacturing activity.

The benchmark S&P/TSX Composite Index is down 49.84 points or 0.22% at 21,664.70 a few minutes past noon.

The Healthcare Capped Index is down 4.7%. Tilray Inc. (TLRY.TO), which posted a hefty gain in the previous session, is down 17.8%. Aurora Cannabis (ACB.TO) and Canopy Growth Corporation (WEED.TO) are plunging 21% and 26%, respectively. Organigram Holdings (OGI.TO) is down nearly 8%.

The Energy Capped Index is down nearly 2%. Baytex Energy (BTE.TO) is down 5%. Tamarack Valley Energy (TVE.TO), Crescent Point Energy (CPG.TO), Birchcliff Energy (BIR.TO), Vermilion Energy (VET.TO) and Whitecap Resources (WCP.TO) are down 3 to 4%.

Cenovus Energy Inc (CVE.TO) is down 1.7% after the company reported first-quarter net earnings of $1,176 million, compared with $636 million in the year-ago quarter.

Consumer discretionary stock Restaurant Brands International (QSR.TO) is down 3.7%. Mty Food Group (MTY.TO), Aritzia Inc (ATZ.TO) and Canada Goose Holdings (GOOS.TO) are down 1.6 to 1.9%. Brp Inc (DOO.TO) is down nearly 1%.

Among the gainers, Bombardier Inc (BBD.B.TO) climbing 6.3%. Boralex (BLX.TO) is up 4.2%. Cameco Corporation (CCO.TO), Boyd Group Services (BYD.TO), Sprott Inc (SII.TO), Descartes Systems Group (DSG.TO), Constellation Software (CSU.TO), Kinaxis Inc (KXS.TO), George Weston (WN.TO) Intact Financial Corporation (IFC.TO) are up 1 to 3%.

Loblaw Companies (L.TO) is gaining about 1.2%. The company reported adjusted net earnings of $537 million for the first-quarter of 2024, up $32 million or 6.3%, compared to year-ago quarter.

CGI Inc (GIB.A.TO) is down 2.2%. The company reported net earnings of $426.9 million for the second-quarter, up 1.8% year-over-year.

Fortis Inc. (FTS.TO) reported first-quarter net earnings of $459 million, or $0.93 per common share, up from $437 million, or $0.90 per common share in the year-ago quarter. The stock is gaining 0.8%.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous session, with the benchmark S&P/ASX 200 falling well below the 8,850 level, following the broadly negative cues from Wall Street overnight, with weakness in mining and financial stocks partially offset by gains in energy and technology stocks.

RTTNews | il y a 27 minutes

Asian Markets Track Global Markets Lower

Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from global markets overnight, as traders fear the widely expected interest rate cut of a quarter point by the US Fed later in the day will be too little after recent US jobs and inflation numbers. They remain cautious and are reluctant to make significant moves ahead of the announcement.

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Sensex, Nifty Seen Up On Trade Talk Optimism

Indian shares look set to open on a positive note on Wednesday despite weak cues from global markets.

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Lower Open Called For Thai Stock Market

The Thai stock market has moved higher in eight straight sessions, adding almost 55 points or 4.5 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,310-point plateau although it may be stuck in neutral on Wednesday.

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Indonesia Bourse May Run Out Of Steam On Wednesday

The Indonesia stock market has moved higher in six straight sessions, advancing more than 320 points or 4.3 percent in that span. The Jakarta Composite Index now rests just beneath the 7,960-point plateau although the rally may stall on Wednesday.

RTTNews | il y a 2h 35min

Japanese Market Slightly Lower

The Japanese stock market is trading slightly lower on Wednesday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 44,850 level, with weakness in index heavyweights, exporters and financial stocks partially offset by gains in technology stocks.

RTTNews | il y a 2h 35min

Losses May Accelerate For Hong Kong Stock Market

The Hong Kong stock market on Tuesday snapped the two-day winning streak in which it had jumped more than 360 points or 1.4 percent. The Hang Seng Index now sits just beneath the 26,440-point plateau and it may extend its losses on Wednesday.

RTTNews | il y a 2h 50min

Australian Market Modestly Lower

Australian shares are trading modestly lower on Wednesday, reversing the gains in the previous session, with the benchmark S&P/ASX 200 falling below the 8,850 level, following the broadly negative cues from Wall Street overnight, with weakness in mining, financial and technology stocks partially offset by gains in energy stocks.

RTTNews | il y a 3h 1min

EURUSD	1.18522	GBPUSD	1.36426	AUDUSD	0.66757
USDJPY	146.53	USDCAD	1.37528	USDCHF	0.78699