TSX Ends Modestly Higher

RTTNews | 883 days ago
TSX Ends Modestly Higher

(RTTNews) - The Canadian market ended modestly higher on Tuesday, led by gains in energy stocks after oil prices rose sharply on hopes of an uptick in demand from China.

Several stocks from financials and materials sectors moved higher. Shares from utilities, consumer staples and communications sectors drifted lower.

The benchmark S&P/TSX Composite Index ended with a gain of 96.08 points or 0.47% at 20,725.00 after scaling a low of 20,541.59 and a high of 20,775.72 intraday.

The Energy Capped Index climbed 2.78%. Enerplus Corp (ERF.TO), Baytex Energy (BTE.TO), Athabasca Oil Corp (ATH.TO), Crescent Point Energy (CPG.TO), Parex Resources (PXT.TO), MEG Energy Corp (MEG.TO), Vemilion Energy (VET.TO), Cenovus Energy (CVE.TO) and Paramount Resources (POU.TO) gained 4 to 6%.

Financials shares Laurentian Bank (LB.TO), CDN Western Bank (CWB.TO), Bank of Nova Scotia (BNS.TO), Canadian Imperial Bank of Commerce (CM.TO), Toronto-Dominion Bank (TD.TO) and Fairfax Financial Holdings (FFH.TO) gained 1 to 2%.

In the materials section, Lithium Americas Corp (LAC.TO) surged nearly 10% after the company received a favorable ruling from the US District Court, District of Nevada, for the appeal filed against the Bureau of Land Management for the issuance of the Record of Decision relating to the Company's 100%-owned Thacker Pass project located in Humboldt Country, Nevada.

First Quantum Minerals (FM.TO) climbed 7.25%, and K92 Mining Corp (KNT.TO) gained 4.57%. Winpak (WPK.TO) rallied nearly 4%. Ero Copper (ERO.TO), Torex Gold Resources (TXG.TO), Methanex Corp (MX.TO), West Fraser Timber (WFG.TO), Canfor Corp (CFP.TO) and Iamgold Corp (IMG.TO) gained 2 to 3%.

Coveo Solutions (CVO.TO) ended nearly 6% down. The company reported a net loss of $10.0 million for the third quarter, as against net income of $426.3 million in the year-ago quarter.

On the economic front, Canada posted a trade deficit of C$ 160 million in December 2022, down from an upwardly revised shortfall of C$ 220 million in the previous month.

Total exports fell 1.2% over a month earlier to C$ 63.0 billion in December, the lowest level since February 2022. Imports fell 1.3% to C$ 63.1 billion, the lowest level since March 2022.

read more
U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 1h 50min ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 3h 3min ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 3h 6min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 4h 15min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 4h 50min ago
DAX Modestly Up After Hitting Fresh Record High

DAX Modestly Up After Hitting Fresh Record High

German stocks are up in positive territory on Thursday, extending gains from the previous three sessions, as investors continue to focus on US-EU trade negotiations. Data showing a drop in Germany's consumer price inflation in the month of June is aiding sentiment.
RTTNews | 5h 10min ago
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 6h 4min ago