Bay Street Seen Opening Higher; BoC Rate Decision In Focus

RTTNews | 1036 dni temu

(RTTNews) - Canadian shares are expected to open higher on Wednesday, tracking firm commodity prices. The focus will be on the Bank of India's interest rate decision, due at 10 AM ET.

The central bank's interest rate decision and the accompanying monetary policy statement, and the subsequent press conference are likely to set the trend for the market.

The central bank is widely expected to announce another sharp interest rate hike. The bank raised the target for its overnight rate by 75bps to 3.25% in September 2022. The fifth consecutive rate hike by the bank pushed borrowing costs to the highest since 2008.

FirstServices Corporation (FSV.TO) reported GAAP Operating Earnings of $62.7 million for the third-quarter, up from $61.5 million in the prior year period. The GAAP diluted earnings per share was $0.77 in the quarter, compared to $1.03 for the same quarter a year ago.

Crescent Point Energy (CPG.TO) reported net income of $466.4 million for the quarter ended September 2022, compared with net income of $77.5 million in the year-ago quarter.

The Canadian market shrugged off a weak start and climbed higher on Tuesday thanks to sustained buying in stocks from healthcare, technology, consumer discretionary and materials sectors.

The benchmark S&P/TSX Composite Index ended with a gain of 178.61 points or 0.94% at 19,097.01, almost near the day's high.

Asian stocks closed higher on Wednesday as weak U.S. data released overnight boosted expectations of a less hawkish Federal Reserve.

Investors are pricing in a smaller rate hike in December after a 75-basis point hike in November. Third-quarter U.S. GDP data, due later this week, is expected to offer more clues on the economic and rate outlook.

European stocks are turning in a mixed performance with investors reacting to a mixed bag of earnings announcement, and looking ahead to the ECB rate decision on Thursday.

The European Central Bank is widely expected to raise rates by 75 basis points amid a looming recession.

In commodities trading, West Texas Intermediate Crude oil futures for December are gaining $0.87 or 1.02% at $86.19 a barrel.

Gold futures are up $14.80 or 0.9% at $1,672.80 an ounce, while Silver futures are up $0.206 or 1.06% at $19.555 an ounce.

Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.

RTTNews | 52 minut temu

European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.

RTTNews | 53 minut temu

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.

RTTNews | 2g 18 minut temu

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.

RTTNews | 2g 34 minut temu

Sensex, Nifty Set To Open Lower As New U.S. Tariffs Take Effect

Indian shares may open on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday.

RTTNews | 3g 4 minut temu

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.

RTTNews | 3g 16 minut temu

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.

RTTNews | 3g 24 minut temu

Thai Bourse May Halt Losing Streak On Thursday

The Thai stock market has moved lower in back-to-back sessions, slipping almost 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,250-point plateau although it may stop the bleeding on Thursday.

RTTNews | 3g 33 minut temu

EURUSD	1.16368	GBPUSD	1.35021	AUDUSD	0.65068
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