TSX Recovers After Weak Start, Ends On Firm Note

RTTNews | 246 days ago
TSX Recovers After Weak Start, Ends On Firm Note

(RTTNews) - The Canadian market closed higher on Tuesday, riding on strong gains in utilities, consumer staples and healthcare sectors.

In addition to digesting a slew of corporate earnings announcements, investors eyed the outcome of U.S. Presidential Election, and the Federal Reserve's monetary policy announcement, due later in the week.

The benchmark S&P/TSX Composite Index closed up 131.84 points or 0.54% at 24,387.90, near the day's high of 24,393.82.

Capital Power Corporation (CPX.TO) climbed 5.3%. Sprott Inc (SII.TO), Celestica Inc (CLS.TO), Teck Resources (TECK.B.TO), goeasy (GSY.TO) and Sun Life Financial (SLF.TO) gained 3.2 to 4.4%.

Brookfield Corporation (BN.TO), Docebo Inc (DCBO.TO), Brookfield Wealth Solutions (BNT.TO), Dayforce (DAY.TO), Kinaxis Inc (KXS.TO), George Weston (WN.TO) and Loblaw Companies (L.TO) gained 1.5 to 3%.

Thomson Reuters Corporation (TRI.TO) rallied 3.3% after reporting operating profit of $415 million for the third quarter ended September 30, 2024, compared with $441 million a year ago.

Fortis Inc (FTS.TO) gained 3%. The company announced that it posted net earnings of $420 million or $0.85 per common share in the third quarter of 2024, compared up $394 million, or $0.81 per shares in the corresponding quarter last year.

Wajax Corporation (WJX.TO) tanked more than 17%. Cargojet (CJT.TO) closed down 6.5%. Primo Water Corporation (PRMW.TO) closed lower by nearly 5%.

Colliers International Group (CIGI.TO) ended down 3.6% after the company downgraded its full-year outlook.

Restaurant Brands International (QSR.TO) closed down 3.1% after the company said it expects lower sales growth after its main brands logged softer growth and declining sales, missing targets.

Toromont Industries (TIH.TO), Canadian Tire Corporation (CTC.TO) and EQB Inc (EQB.TO) lost 2.8 to 3%.

On the economic front, the S&P Global Canada Composite PMI rose to 50.7 in October 2024 from 47.0 in September, indicating a return to marginal growth in the private sector after four months of contraction.

The S&P Global Canada Services PMI rose to 50.4 in October 2024, up from 46.4 in September, signaling a marginal expansion in the services sector for the first time in five months.

Data from Statistics Canada said Canada posted a trade deficit of C$ 1.26 billion in September, narrowing slightly from the C$ 1.5 billion gap in the previous month.

Exports declined marginally by 0.1% to C$ 63.88 billion in September, while imports fell by 0.4% over a month to C$ 65.2 billion in the month.

read more
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 | 35 minutes 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 | 38 minutes 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 | 1h 47min 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 | 2h 21min 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 | 2h 42min 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 | 3h 36min ago
European Shares Extend Gains On Trade Deal Optimism

European Shares Extend Gains On Trade Deal Optimism

European stocks rose for a fourth consecutive session on Thursday as optimism prevailed about a potential trade deal between the U.S. and the European Union. EU trade chief Maros Sefcovic said there was good progress on a framework trade agreement and a deal may even be possible within days.
RTTNews | 4h 10min ago