TSX Ends Sharply Lower On Widespread Selling

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(RTTNews) - Canadian stocks closed sharply lower on Wednesday as Fitch downgraded the U.S.' sovereign credit rating to AA+ from AAA, citing a "steady deterioration in standards of governance over the last 20 years.

Weak bullion and commodity prices hurt as well.

The benchmark S&P/TSX Composite Index, which tumbled to a low of 20,148.23 before noon, ended the day's session with a loss of 314.72 points or 1.53% at 20,218.21.

All the sectoral indices ended in negative territory. Technology, materials, utilities, energy and communications shares were among the major losers. Financials and industrials shares dropped as well.

The Information Technology Capped Index dropped nearly 4%. Shopify Inc (SHOP.TO) ended 6.95% down. BlackBerry (BB.TO) lost 6%. Lightspeed Commerce (LSPD.TO) ended 5.67% down. Kinaxis Inc (KXS.TO), Constellation Software (CSU.TO), Open Text Corporation (OTEX.TO) and Docebo Inc (DCBO.TO) also ended sharply lower.

Among materials shares, Interfor Corp (IFP.TO), First Quantum Minerals (FM.TO), Stelco Holdings (STLC.TO), Canfor Corp (CFP.TO), West Fraser Timber (WFG.TO), Algoma Steel (ASTL.TO), Lundin Gold (LUN.TO) and Kinross Gold (K.TO) lost 3.7 to 5.1%.

Energy stocks Parex Resources (PXT.TO), International Petroleum Corp (IPCO.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Vermilion Energy (VET.TO), Imperial Oil (IMO.TO) and Cenovus Energy (CVE.TO) ended lower by 1.7 to 3.25%.

Boralex (BLX.TO), Innergex Renewable Energy (INE.TO), Brookfield Renewable Partners (BEP.UN.TO), Brookfield Infra Partners (BIP.UN.TO) and Northland Power (NPI.TO) were among the major losers in the utilities section.

Nuvei Corp (NVEI.TO), down 6.2%, was the biggest loser in the financials sector. Manulife Financial (MFC.TO), Bank of Montreal (BMO.TO), Onex Corp (ONEX.TO), Bank of Nova Scotia (BNS.TO) and Sun Life Financial (SLF.TO) lost 1 to 2%.

Colliers International Group Inc (CIGI.TO) shares soared 9% after the company reported GAAP operating earnings of $75.3 million for the second quarter, compared to $103.9 million in the prior year quarter.

Thomson Reuters Corporation (TRI.TO) gained about 1.75%. The company reported diluted EPS of $3.49 for the second quarter of the current financial year, compared to $1.83 per share in the prior-year period primarily due to higher operating profit and an increase in the current period in the value of the company's investment in LSEG.

Fortis Inc (FTS.TO) reported second-quarter net earnings of $294 million or $0.61 per common share, up from $284 million or $0.59 per common share in the year-ago quarter. The stock ended marginally down.

European Shares Set For Steady Open Before US Jobs Report

European stocks may open slightly higher on Friday as investors await the all-important monthly U.S. jobs report later in the day for direction.

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Sensex, Nifty Open Higher On Fed Rate Cut Hopes

Indian shares were modestly higher on Friday as weak U.S. labor market data fueled fresh hopes for a Federal Reserve rate cut this month.

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Australian Market Trims Early Gains In Mid-market

The benchmark S&P/ASX 200 Index is gaining 30.30 points or 0.34 percent to 8,856.80, after touching a high of 8,880.70 earlier. The broader All Ordinaries Index is up 35.00 points or 0.39 percent to 9,126.40. Australian stocks closed significantly higher on Thursday.

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Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, as some weaker than expected U.S. private sector job growth in the month of August bolstered bets the US Fed will lower interest rates later this month. The markets are pricing in a September rate cut and anticipating at least two reductions this year.

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Sensex, Nifty Seen Higher At Open On Firm Global Cues

Indian shares are likely to open higher on Friday, tracking firm cues from global markets and falling oil prices on oversupply concerns ahead of an OPEC+ meeting this weekend.

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Japanese Market Significantly Higher

Extending the gains in the previous session, the Japanese market is significantly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 42,900 level, with gains across most sectors led by index heavyweights, automakers and technology stocks.

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Rebound Anticipated For Thai Stock Market

The Thai stock market on Thursday snapped the three-day winning streak in which it had jumped almost 24 points or 2 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to bounce higher again on Friday.

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Australian Market Notably Higher

The Australian stock market is trading notably higher on Friday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level, with gains in financial stocks and a mixed performance across most other sectors.

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EURUSD	1.16809	GBPUSD	1.34698	AUDUSD	0.65452
USDJPY	148.124	USDCAD	1.37909	USDCHF	0.80357