TSX Ends 1.6% Up On Broad-based Buying After U.S. Inflation Data

RTTNews | 651 dni temu

(RTTNews) - The Canadian market ended on a buoyant note on Tuesday with investors picking up stocks across the board after data showing tamer than expected U.S. inflation raised hopes the Fed will not hike interest rates again.

Interest rate sensitive financials, real estate and utilities shares posted strong gains. Materials, healthcare and technology stocks rallied sharply. Several stocks from consumer discretionary, industrials and communications sectors too posted impressive gains.

The benchmark S&P/TSX Composite Index ended up 314.58 points or 1.6% at 20,023.73, rising past the 20,000 mark for the first time in almost two months.

The Labor Department said U.S. consumer price index was unchanged in October after climbing by 0.4% in September. Economists had expected consumer prices to inch up by 0.1%. Core consumer prices edged up by 0.2% in October after rising by 0.3% in September. Core prices were expected to rise by another 0.3%.

The report also said the annual rate of consumer price growth slowed to 3.2% in October from 3.7% in September. Economists had expected the pace of growth to decelerate to 3.3%.

In Canadian economic news, data released by Statistics Canada this morning showed car registrations in Canada increased to 163,279 units in September from 158,531 units in August.

The Real Estate Capped Index climbed 4.37%. Tricon Capital Group (TCN.TO) surged more than 8%. Crombie Real Estate (CRR.UN.TO), CT Real Estate Investment Trust (CRT.UN.TO), Colliers International (CIGI.TO) and Choice Properties (CHP.UN.TO) gained 5 to 6.2%.

The Health Care Capped Index climbed 2.97%. Chartwell Retirement Residences (CSH.UN.TO) gained 4.2%, Bausch Health Companies (BHC.TO) advanced 3.1%, Sienna Senior Living (SIA.TO) gained 2.75% and Tilray Inc (TLRY.TO) ended 1.7% up.

The Utilities Capped Index jumped 2.95%. Brookfield Renewable Partners (BEP.UN.TO) and Innergex Renewable Energy (INE.TO) gained 8.6% and 7%, respectively. Boralex Inc (BLX.TO) moved up 5.6%, while Algonquin Power & Utilities Corp (AQN.TO) and Northland Power (NPI.TO) both gained nearly 5%.

The Materials Capped Index surged 2.66% with several stocks climbing higher on strong bullion prices. K92 Mining Inc (KNT.TO) and Fortuna Silver Mines (FVI.TO) soared 10.4% and 10%, respectively. First Majestic Silver Corp (FR.TO), Interfor Corp (IFP.TO), Seabridge Gold Inc (SEA.TO), MAG Silver Corp (MAG.TO), Pan American Silver Corp (PAAS.TO) and Lundin Mining Corp (LUN.TO) gained 5.5 to 8.5%.

In the financials sector, Sun Life Financial Inc (SLF.TO) gained about 3.75% after reporting stronger than expected quarterly earnings.

National Bank of Canada (NA.TO), ONEX Corp (ONEX.TO), CDN Western Bank (CWB.TO), Bank of Montreal (BMO.TO), Canadian Imperial Bank of Commerce (CM.TO), Royal Bank of Canada (RY.TO), Laurentian Bank (LB.TO), Bank of Nova Scotia (BNS.TO) and Toronto-Dominion Bank (TD.TO) posted impressive gains.

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.

RTTNews | 44 minut temu

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation, which could impact the outlook for interest rates.

RTTNews | 48 minut temu

Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.

RTTNews | 2g 14 minut temu

Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.

RTTNews | 2g 33 minut temu

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | 2g 44 minut temu

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

RTTNews | 2g 50 minut temu

Hong Kong Shares Expected To Open To The Upside

The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.

RTTNews | 2g 59 minut temu

Higher Open Called For China Stock Market

The China stock market on Tuesday halted the four-day winning streak in which it had rallied almost 160 points or 4.4 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau although it may move back to the upside again on Wednesday.

RTTNews | 3g 14 minut temu

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