Canadian Market Up Firmly In Positive Territory; Materials Shares Rise

RTTNews | Pred 587 dňami

(RTTNews) - The Canadian market is up in positive territory around late morning on Friday, supported by gains in healthcare, materials and real estate sectors.

In addition to digesting the data on Canadian GDP, investors are also reacting to the data showing a sharper than expected deceleration in U.S. consumer price growth.

The benchmark S&P/TSX Composite Index is up 151.79 points or 0.73% at 20.917.52 nearly half an hour before noon.

Healthcare stock Tilray Inc (TLRY.TO) is up 7%. Chartwell Retirement Residences (CSH.UN.TO) is gaining about 1.2%.

In the materials sector, Torex Gold Resources (TXG.TO) is surging nearly 7%. Osisko Mining (OSK.TO) is up 5%, while K92 Mining Inc (KNT.TO), Novagold (NG.TO) and First Quantum Minerals (FM.TO) are up 3.7 to 4%. Eldorado Gold (ELD.TO), Silvercrest Metals (SIL.TO), Alamos Gold (AGI.TO), Pan American Silver Corp (PAAS.TO), Wesdome Gold Mines (WDO.TO), MAG Silver Corp (MAG.TO) and B2Gold Corp (BTO.TO) are up 2 to 3%.

Data from Statistics Canada showed Canada's economy likely grew 0.1% in November, according to preliminary estimates. In October, the economy remained relatively stable for a third straight month, with a 0.1% increase in services-producing industries, and no significant change in goods-producing industries.

According to preliminary estimates, Canada's manufacturing sales likely rose 1.2% from a month earlier in November, rebounding from a 2.9% decline in the previous month. Meanwhile, wholesale sales in Canada is estimated to have increased by 0.8% from a month earlier in November, following a 0.5% drop in October.

The data from the Commerce Department showed consumer price growth in the U.S. decelerated to 2.6% in November from a downwardly revised 2.9% in October.

The bigger than expected slowdown in consumer price growth is likely to add to optimism the Fed is poised to pivot to cutting interest rates early next year.

The Royal Bank of Canada (RY.TO) announced the acquisition of HSBC's domestic in a C$13.5 billion dollar deal. The deal is part of establishing a global banking hub in Vancouver that will support more than 1000 jobs. The hub is expected to create 440 new jobs in British Columbia. Royal Bank of Canada shares are up nearly 1%.

Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.

RTTNews | Pred 29 minútami

European Stocks Close Mostly Weak As Investors React To Earnings

European markets closed mostly lower on Thursday as investors reacted to a slew of earnings announcements and digested the latest batch of economic data from the region, and also followed the developments on the trade front.

RTTNews | Pred 59 minútami

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.

RTTNews | Pred 3 h 48 min

German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.

RTTNews | Pred 4 h 30 min

U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.

RTTNews | Pred 4 h 38 min