Canadian Market Retreats After Recovering From Early Drop

RTTNews | 92天前

(RTTNews) - The Canadian market is modestly higher around noon on Thursday with shares from energy and technology sectors posting strong gains. A sell-off in materials section is limiting market's upside.

The mood in the market is quite cautious amid concerns about global economic growth. Data from the U.S. showing drop in construction spending, a contraction in manufacturing activity and an increase in weekly jobless claims, and continued deterioration in Canadian manufacturing activity are weighing on sentiment.

The benchmark S&P/TSX Composite Index was down 10.17 points or 0.04% at 24,831.51 a few minutes past noon. The index, which dropped to 24,750.19 in early trades, climbed to 24,961.77 subsequently, before paring gains.

In the energy sector, Baytex Energy is rising more than 6%. Enerflex, Cenovus Energy, Precision Drilling Corp., International Petroleum Corp, Advantage Oil & Gas, MEG Energy, Canadian Natural Resources and Vermilion Energy are gaining 2 to 3.5%.

In the technology section, Celestica Inc is rising nearly 8%. Bitfarms, Coveo Solutions, Shopify, Quarterhill and Sylogist are up 2.7 to 4.3%.

Materials stock Alamos Gold is tanking more than 12% on weak results. The company said its adjusted first-quarter earnings rose to $59.8 million, from $51.2 million a year ago. Earnings per share was 14 cents in the latest quarter, compared to 13 cents in the year-ago quarter. Analysts had expected EPS to come in at 19 cents.

Orla Mining, Aya Gold & Silver, First Majestic Silver Corp., Torex Gold Resources, Wesdome Gold Mines, Endeavour Silver Corp., SSR Mining, MAG Silver, Equinox Gold and B2Gold Corp are down 4 to 7%.

Data from S&P Global said the Canada Manufacturing PMI fell to 45.3 in April of 2025 from 46.3 in the previous month, pointing to a third successive deterioration in factory activity and its lowest reading since May 2020.

U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.

RTTNews | 16小時39分鐘前

European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment

European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.

RTTNews | 20小時0分鐘前

Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries

The Canadian market got off to a weak start Friday morning and slipped deeper into the red subsequently, as U.S. President Donald Trump's sweeping tariff announcement rendered the mood bearish.

RTTNews | 21小時31分鐘前

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.

RTTNews | 22小時44分鐘前

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.

RTTNews | 22小時48分鐘前

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.

RTTNews | 22小時50分鐘前

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

RTTNews | 23小時37分鐘前

U.S. Job Growth Misses Estimates In July, Previous Months' Numbers Revised Sharply Lower

Job growth in the U.S. fell well short of economist estimates in the month of July, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment rose by 73,000 jobs in July, while economists had expected employment to jump by 110,000 jobs.

RTTNews | 23小時45分鐘前

EURUSD	1.15956	GBPUSD	1.32834	AUDUSD	0.64735
USDJPY	147.381	USDCAD	1.37779	USDCHF	0.8035

Advertisement

Canadian Market Retreats After Recovering From Early Drop