Canadian Shares Likely To Open On Mixed Note

RTTNews | 1130 dagar sedan

(RTTNews) - Canadian shares are likely to open on a mixed note on Wednesday, with investors tracking weak European stocks and higher crude oil prices.

Worries about tighter monetary policies from central banks, and fears about a recession might weigh on stocks and limit any upside during the course of the session.

In company news, Corus Entertainment Inc (CJR.B.TO) reported net income attributable to shareholders of $29.6 million ($0.14 per share basic) for the third quarter and $122.0 million ($0.59 per share basic) year-to-date. The company announced that its consolidated revenue increased 8% for the quarter and 6% year-to-date.

TELUS Corp.(T.TO) announced that its subsidiary has entered into a purchase agreement to acquire shares in TELUS International (Cda) Inc. As per the agreement, TELUS will buy 3 million multiple voting shares of TELUS International from Baring Private Equity Asia or BPEA.

The Canadian market ended weak on Tuesday despite opening on a firm note and holding in positive territory till a little before noon. The benchmark S&P/TSX Composite Index, which climbed to 19,500.89 earlier in the session, ended the day at 19,222.74, down 35.58 points or 0.18% from the previous close.

Asian stocks ended lower on Wednesday as investors fretted over high inflation and the possibility of a recession. Risk-off sentiment boosted the safe-haven dollar while crude prices declined after a three-day rally.

European stocks are down firmly in negative territory Wednesday afternoon, losing ground after three successive days of gains. Investors are eyeing speeches by European Central Bank President Christine Lagarde at the Sintra forum, alongside Federal Reserve Chairman Jerome Powell and Bank of England Governor Andrew Baile at the Sintra Forum.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.51 or 1.35% at $113.27 a barrel.

Gold futures are gaining $6.50 or 0.36% at $1,827.70 an ounce, while Silver futures are up $0.104 or 0.5% at $20.910 an ounce.

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 | 1 dag sedan

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 | 1 dag sedan

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 | 1 dag sedan

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 | 1 dag sedan

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 | 1 dag sedan

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 | 1 dag sedan

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 | 1 dag sedan

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 | 1 dag sedan

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

Advertisement

Canadian Shares Likely To Open On Mixed Note