Canadian Market Rises On Strong Jobs Data; Energy, Technology Stocks Rally

RTTNews | Před 830 dny

(RTTNews) - The Canadian market is up firmly in positive territory a little past noon on Friday, led by gains in energy, technology and financials sectors.

Several stocks from consumer discretionary, industrials and healthcare sectors are also notably higher.

The mood remains quite positive after data showed jobs growth in Canada beat expectations for a fifth straight month. According to the data released by Statistics Canada, the Canadian economy added 41,400 jobs in April 2023, much higher than an expected addition of 20,000 jobs.

The unemployment rate in Canada was at 5% for a fifth consecutive month in April, remaining near the record low of 4.9% seen in June and July of 2022.

Meanwhile, average hourly earnings for permanent employeess in Canada increased by 5.2% year-on-year to $34.13 in April.

Data from the Labor Department showed non-farm payroll employment in the U.S. shot up by 253,000 jobs in April compared to economist estimates for an increase of about 179,000 jobs.

The benchmark S&P/TSX Composite Index is up 265.11 points or 1.3% at 20,503.30 about half an hour past noon.

The Energy Capped Index is up 3.27%. Pason Systems (PSI.TO) and ARC Resources (ARX.TO) both are gaining more than 7%. Precision Drilling Corp (PD.TO), Africa Oil Corp (AOI.TO), MEG Energy (MEG.TO), Advantage Oil Corp (AAV.TO), Canadian Natural Resources (CNQ.TO), Paramount Resources (POU.TO), Enerplus Corp (ERF.TO), Vermilion Energy (VET.TO), Prairiesky Royalty (PSK.TO) and Imperial Oil (IMO.TO) are gaining 3 to 6%.

The Information Technology Capped Index is rising nearly 3.5%. Open Text Corp (OTEX.TO) is soaring 12.3%. Shopify Inc (SHOP.TO), which posted a hefty gain in the previous session, is up nearly 7%. BlackBerry (BB.TO), Bitforms (BITF.TO), Lightspeed Commerce (LSPD.TO), Kinaxis Inc (KXS.TO), Softchoice Corp (SFTC.TO) and Sylogist (SYZ.TO) are up 3.5 to 7%.

In the financials sector, Canadian Imperial Bank of Commerce (CM.TO), Bank of Montreal (BMO.TO), Toronto-Dominion Bank (TD.TO), Bank of Nova Scotia (BNS.TO), CDN Western Bank (CWB.TO), Laurentian Bank (LB.TO), Manulife Financial (MFC.TO) and Sunlife Financial (SLF.TO) are up 1 to 2.2%, while Goeasy (GSY.TO) is gaining nearly 4%.

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 two sessions, with the benchmark S&P/ASX 200 falling well below the 8,850 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

RTTNews | Před 1 h 7 min

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by Hong Kong and Japanese markets amid improved outlook for interest rates after US consumer price inflation for July came in line with expectations. The U.S. and China also confirmed a 90-day extension of their trade truce. Asian markets closed mixed on Tuesday.

RTTNews | Před 1 h 18 min

Sensex, Nifty Set For Positive Open As Retail Inflation Hits 8-year Low

Indian shares look set to open on a positive note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years amid a continued fall in food prices.

RTTNews | Před 1 h 54 min

Rebound Anticipated For Thai Stock Market

Ahead of the long holiday weekend for Queen Sirikit's birthday, the Thai stock market had ended the four-day winning streak in which it had surged almost 50 points or 4.1 percent. The Stock Exchange of Thailand now sits just beneath the 1,260-point plateau although it's expected to bounce higher again on Wednesday.

RTTNews | Před 2 h 26 min

Japanese Market Sharply Higher

The Japanese stock market is sharply higher on Wednesday, extending the gains in the previous six sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving a tad above the 43,300 level to fresh record all-time highs, with gains across all sectors led by exporters and financial stocks.

RTTNews | Před 2 h 44 min

Indonesia Bourse May Test Resistance At 7,800 Points

The Indonesia stock market has tracked higher in three straight sessions, improving more than 300 points or 4 percent along the way. The Jakarta Composite Index now sits just above the 7,790-point plateau and it may at least open higher again on Wednesday.

RTTNews | Před 2 h 56 min

Additional Support Called For Hong Kong Stock Market

The Hong Kong stock market has moved higher in back-to-back sessions, gathering more than 110 points or 0.4 percent along the way. The Hang Seng Index now rests just beneath the 24,970-point plateau and it's expected to open to the upside again on Wednesday.

RTTNews | Před 3 h 11 min

Australian Market Modestly Lower

Australian shares are trading modestly lower on Wednesday after opening in the green, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying well below the 8,900 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

RTTNews | Před 3 h 13 min

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