TSX Ends Sharply Lower As Inflation Data Triggers Sell-off

RTTNews | 890 dni temu
TSX Ends Sharply Lower As Inflation Data Triggers Sell-off

(RTTNews) - The Canadian market ended sharply lower on Tuesday as hotter-than-expected inflation data raised bets the Bank of Canada will tighten its policy by hiking interest rates.

Weak crude oil and bullion prices weighed as well.

The benchmark S&P/TSX Composite Index ended with a loss of 297.90 points or 1.45% at 20,242.07, recording its biggest single session drop in about three weeks.

Data from Statistics Canada showed the annual inflation rate in Canada rose to 4.4% in April of 2023 from the 19-month low of 4.3% in the previous month, well above the expected increase of 4.1%. The hotter-than-expected inflation data has raised fears the Canadian central bank will tighten its policy stance.

Core consumer prices in Canada increased 4.1% in April over the same month in the previous year.

A separate data from Statistics Canada showed manufacturing sales in Canada rose slightly by 0.7% month-over-month in March 2023, reversing a 3.6% drop in February.

As selling was widespread, all the sectoral indices ended in negative territory. Energy, materials, real estate, healthcare and financials shares were among the major losers.

Enbridge (ENB.TO), Precision Drilling Corporation (PD.TO), Teck Resources (TECK.B.TO), Magna International (MG.TO), Agnico Eagle Mines (AEM.TO), Canadian Natural Resources (CNQ.TO), Shopify Inc (SHOP.TO), Franco-Nevada Corporation (FNV.TO) and Royal Bank of Canada (RY.TO) lost 2 to 4%.

Lithium Americas Corp (LAC.TO) rallied 2.3%. SNC-Lavalin Group (SNC.TO), Cogeco Inc. (CGO.TO), Boyd Group Services (BYD.TO) and Bombardier Inc (BBD.A.TO) also ended notably higher.

read more
Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Higher crude oil and metal prices point to a firm start for the Canadian market on Thursday. Investors are also expecting that the upcoming Canadian budget will contain some huge funding in major initiatives.
RTTNews | 1g 53 minut temu
Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey's central bank reduced the pace of interest rate cuts on Thursday as inflation accelerated due to higher food prices. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Yasar Fatih Karahan, decided to reduce the policy rate by 100 basis points to 39.50 percent from 40.50 percent.
RTTNews | 2g 11 minut temu
French Manufacturing Sentiment Strengthens Unexpectedly

French Manufacturing Sentiment Strengthens Unexpectedly

French manufacturing confidence strengthened unexpectedly in October to the highest level in more than a year, data from the statistical office INSEE showed on Thursday. The manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. Moreover, the score was the highest since March 2024.
RTTNews | 3g 43 minut temu
CAC 40 Hovers Near Record High; Kering Soars Over 10%

CAC 40 Hovers Near Record High; Kering Soars Over 10%

France's CAC 40 is hovering near its record high on Thursday with investors largely reacting to corporate earnings announcements, and data showing an improvement in industry confidence in France in the month of October.
RTTNews | 3g 52 minut temu
Sensex, Nifty Give Up Sharp Early Gains

Sensex, Nifty Give Up Sharp Early Gains

Indian shares closed higher on Thursday after reports suggested that India and the United States are close to finalizing a long-awaited bilateral trade deal that could sharply lower tariffs on Indian exports to about 15-16 percent from the current average of 50 percent.
RTTNews | 4g 25 minut temu
DAX Drifts Lower As Investors React To Results, Geopolitical News

DAX Drifts Lower As Investors React To Results, Geopolitical News

The German market is showing weakness on Thursday, as investors remain cautious, reacting to a slew of earnings announcements, and continuing to watch the developments on U.S.-China trade front, as well as news from the geopolitical front.
RTTNews | 4g 42 minut temu
European Shares Mixed Amid Earnings Deluge

European Shares Mixed Amid Earnings Deluge

European shares were mixed on Thursday as investors digested a wave of corporate earnings and watched trade developments between the United States and China. Meanwhile, EU countries today formally adopted a 19th package of sanctions against Russia for its war against Ukraine that includes a ban on Russian liquefied natural gas imports.
RTTNews | 5g 36 minut temu