TSX Extends Winning Streak To 8th Session

RTTNews | 815 days ago
TSX Extends Winning Streak To 8th Session

(RTTNews) - Despite turning in a somewhat lackluster performance, the Canadian market ended higher on Tuesday, extending its climb to an eighth straight session.

In addition to digesting the data on Canadian inflation, investors also tracked economic and earnings updates from the U.S., and China.

Stronger than expected Chinese GDP growth and some better than expected earnings from U.S. companies aided sentiment.

The benchmark S&P/TSX Composite Index, which moved in a tight range between 20,659.01 and 20,729.52, ended with a gain of 42.71 points or 0.21% at 20,684.68.

Bellus Health Inc (BLU.TO) shares skyrocketed 100%, lifted by GSK's plans to buy the drug developer in an all-cash deal for $2 billion. The British drugmaker has made this move in order to expand its bet on respiratory therapies.

Hut 8 Mining Corp (HUT.TO), Athabasca Oil Corporation (ATH.TO), Lundin Mining Corporation (LUN.TO), Toronto-Dominion Bank (TD.TO), First Quantum Minerals (FM.TO), Manulife Financial (MFC.TO), Cenovus Energy (CVE.TO) and Crescent Point Energy (CPG.TO) gained 1 to 3.4%.

Algonquin Power & Utilities Corp (AQN.TO) drifted down more than 5%. Suncor Energy (SU.TO) ended 2.1% down, while B2Gold Corp (BTO.TO) ended lower by 1.4%.

Data released by Statistics Canada this morning showed the annual inflation rate in Canada fell to 4.3% in March, the lowest since August 2021, in line with market expectations, and easing from 5.2% in February.

Core inflation rate in Canada rose 4.3% from a year earlier in March 2023, the least since January 2022, and less than forecasts for a 4.4% rise.

read more
Swiss Market Ends Sharply Lower

Swiss Market Ends Sharply Lower

The Switzerland market closed weak on Friday, tracking weak global cues after U.S. President Donald Trump's latest tariff moves raised fears of a global trade war.
RTTNews | 1h 17min ago
European Stocks Close Weak As Trade War Fears Hurt Sentiment

European Stocks Close Weak As Trade War Fears Hurt Sentiment

European stocks closed lower on Friday as trade war fears resurfaced after U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners.
RTTNews | 1h 33min ago
Canadian Market Remains Weak On Tariff Concerns

Canadian Market Remains Weak On Tariff Concerns

After a weak start and a subsequent drop to lower levels, the Canadian market continues to languish in negative territory a little past noon on Friday. The mood is cautious amid escalating trade war fears following U.S. President Donald Trump announced a 35% tariff on all non-USMCA Canadian imports, effective August 1.
RTTNews | 2h 13min ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 5h 56min ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 6h 3min ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 6h 26min ago
Yen Retreats Amid US-Japan Trade Uncertainty

Yen Retreats Amid US-Japan Trade Uncertainty

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
RTTNews | 7h 15min ago