Bay Street Looks Set To Open On Firm Note

RTTNews | 871 dni temu

(RTTNews) - Higher Canadian and U.S. futures, and firm crude oil prices point to a positive start for the Canadian market on Monday.

News about an agreement for the takeover of the assets of failed Silicon Valley Bank (SVB) has helped ease fears of a global banking crisis.

First Citizens BancShares has entered into a loss-share transaction for all deposits and loans of the SVB, the U.S. Federal Deposit Insurance Corporation (FDIC) said in a statement.

Remarks by U.S. Fed officials that there is no indication that financial stress is worsening also contribute to the positive sentiment in the markets.

The Canadian market ended modestly higher on Friday, recovering well after an early setback. The benchmark S&P/TSX Composite Index climbed well off its worst levels of the day, eventually closing up 41.57 points or 0.2% at 19,501.49.

Asian shares ended mixed on Monday as banking worries swirled and Chinese industrial profit data disappointed. A cautious undertone prevailed after Deutsche Bank shares fell heavily on Friday on the lender's surging cost of default cover.

German Chancellor Olaf Scholz offered reassurances about the bank, helping offer some respite to investors worried about the spillover effect of monetary policy shifts.

European shares are up firmly in positive territory Monday afternoon follwing an agreement for the takeover of the assets of failed Silicon Valley Bank (SVB) easing fears of a global banking crisis.

Meanwhile, the German Ifo business climate index improved to 93.3 in March versus 90.9 expected despite the turbulence at some international banks, a survey showed.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.88 or 1.27% at $70.14 a barrel.

Gold futures are down $27.80 or 1.4% at $1,956.00 an ounce, while Silver futures are down $0.144 or 0.62% at $23.195 an ounce.

Canadian Market Remains In Negative Territory After Weak Start

The Canadian market, which opened on a weak note Thursday morning, continues to languish in negative territory well past noon, weighed down by losses in technology and industrials sectors.

RTTNews | 1g 29 minut temu

Swiss Market Ends Modestly Higher After Mild Struggle

The Switzerland market recovered after a flat start on Thursday, and after staying positive till well past noon, suffered a setback but regained some strength to eventually end the day's session modestly higher.

RTTNews | 1g 54 minut temu

Major European Markets Close On Positive Note

Amid expectations of a rate cut from the Federal Reserve in September, and hopes the meeting between the Presidents of the U.S. and Russia will help end the war in Ukraine, the major European markets closed on a positive note on Thursday, although the U.K. market underperformed other major markets in the region.

RTTNews | 2g 10 minut temu

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.

RTTNews | 4g 37 minut temu

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.

RTTNews | 5g 10 minut temu

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | 5g 51 minut temu

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

RTTNews | 6g 22 minut temu

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.

RTTNews | 6g 26 minut temu

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