TSX Ends Weak For 2nd Straight Day

RTTNews | 674 days ago
TSX Ends Weak For 2nd Straight Day

(RTTNews) - The Canadian market ended notably lower for a second successive session, as stocks tumbled on Wednesday amid rising concerns about interest rates and the outlook for global economic growth.

The benchmark S&P/TSX Composite Index, which dropped to 19,341.44 around mid afternoon, regained some lost ground subsequently to eventually settle at 19,435.98 with a loss of 120.17 points or 0.61%.

Utilities, materials, communications, real esate, and financials shares lost ground. Energy stocks outperformed thanks to higher crude oil prices.

Brookfield Renewable Partners (BEP.UN.TO) dropped 7.4%. Brookfield Renewable Corporation (BEPC.TO), Newmont Corporation (NGT.TO), Brookfield Infrastructure Corporation (BIPC.TO), Agnico Eagle Mines (AEM.TO), Wheaton Precious Metals (WPM.TO) and Canadian Imperial Bank of Commerce (CM.TO) lost 3 to 6%.

Fairfax Financial Holdings (FFH.TO), Canadian National Railway (CNR.TO), First Service Corporation (FSV.TO), Franco-Nevada Corporation (FNV.TO) and Colliers International (CIGI.TO) also declined sharply.

Bombardier Inc (BBD.B.TO) rallied 5.3%. Methanex Corporation (MX.TO), MEG Energy Corp (MEG.TO), Imperial Oil (IMO.TO), Celestica Inc (CLS.TO) gained 3 to 4%.

Suncor Energy (SU.TO), Precision Drilling Corporation (PD.TO) and Canadian Natural Resources (CNQ.TO) also posted strong gains.

read more
U.S. Construction Spending Unexpectedly Sees Further Downside In June

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 | 11h 10min ago
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

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 | 11h 14min ago
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

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 | 11h 16min ago
Eurozone Inflation Steady At 2% ECB Target

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 | 12h 3min ago