Bay Street Likely To Open On Mixed Note

RTTNews | 279 dias atrás

(RTTNews) - Canadian stocks are likely to open on a mixed note Wednesday morning with investors tracking commodity prices and reacting to a quarterly earnings announcements. Worries about fresh tariff threats by U.S. President Donald Trump are likely to weigh on sentiment.

Loblaw Companies Ltd (L.TO) announced that it will invest more than $10 billion into the Canadian economy by 2030, including $2.2 billion in 2025, which is expected to create 8,000 jobs over the years. The planned investments include construction of 80 new stores, renovation of more than 300 grocery and pharmacy locations, and continued development of the company's modernized supply chain.

Canadian Tire Corp. (CTC.TO) announced a definitive agreement to sell its Helly Hansen business to Kontoor Brands, Inc. (KTB) for $1.276 billion. The transaction is set to close in the second quarter of 2025.

Gildan Activewear, Inc. (GIL.TO) said it expects 2025 adjusted earnings in a range of $3.38 to $3.58 per share on a revenue decline in the mid-single-digit range. For the first quarter of fiscal 2025, the company said net sales are expected to be up low single digits year over year.

First Quantum Minerals Ltd. (FM.TO) announced offering of $750 million of senior notes. The company intends to use net proceeds from the offering together with cash on balance sheet, to partly repay its revolving credit facility, to fund the concurrent partial tender offer for its existing 6.875% senior notes due 2027.

The Canadian stock market closed on a firm note on Tuesday, supported by gains in materials, energy, industrials and financials sectors.

Investors digested Canadian inflation data, and a few quarterly earnings updates. Higher commodity prices triggered some strong buying at several counters in energy and materials sectors.

The benchmark S&P/TSX Composite Index, which climbed to a high of 25,668.94 intraday, ended the day's session with a gain of 165.61 points or 0.65% at 25,648.84.

Asian stocks ended mixed on Wednesday amid lingering tariff concerns and tense Russia-Ukraine negotiations. China's Shanghai Composite Index closed higher despite comments from U.S. President Donald Trump that the U.S. may impose tariffs of around 25% on pharmaceutical, automobile, and semiconductor imports.

European stocks are notably lower Wednesday afternoon, weighed down by some disappointing earnings updates, hot UK inflation data, and concerns about fresh tariff threats by the Trump Administration.

In commodities, West Texas Intermediate Crude oil futures are up $0.63 or 0.88% at $72.48 a barrel.

Gold futures are gaining $8.50 or 0.31% at $2,957.50 an ounce, while Silver futures are up $0.097 or 0.29% at $33.470 an ounce.

Swiss Stocks Move Higher; SMI Ends Nearly 1% Up

After a positive start and a subsequent fall into negative territory, the Switzerland market recovered and gained in strength as the session progressed on Tuesday to eventually settle on a strong note.

RTTNews | 2 h 4 min atrás

European Stocks Close On Firm Note As Fed Rate Cut Hopes Continue To Lift Sentiment

European stocks closed on a firm note on Tuesday, tracking gains on Wall Street, and amid expectations of an interest rate cut by the Federal Reserve in December. Investors continued to closely follow Ukraine peace stocks, in addition to digesting the latest batch of economic data from the U.S.

RTTNews | 2 h 27 min atrás

Canadian Market Extends Recent Gains; Consumer Staples Stocks Shine

The Canadian market was up firmly in positive territory a little past noon on Tuesday, lifted by strong gains in consumer, industrials and real estate sectors. Optimism about an interest rate cut by the Federal Reserve in December continued to underpin sentiment.

RTTNews | 3 h 41 min atrás

U.S. Business Inventories Unexpectedly Unchanged In August

Business inventories in the U.S. unexpectedly came in flat in the month of August, according to a report released by the Commerce Department on Tuesday. The Commerce Department said business inventories were virtually unchanged in August following a downwardly revised 0.1 percent uptick in July.

RTTNews | 5 h 20 min atrás

U.S. Consumer Confidence Deteriorates Much More Than Expected In November

A report released by the Conference Board on Tuesday showed a substantial deterioration by U.S. consumer confidence in the month of November. The Conference Board said is consumer confidence index tumbled to 88.7 in November from an upwardly revised 95.5 in October. Economists had expected the consumer confidence index to dip to 93.3 from the 94.6 originally reported for the previous month.

RTTNews | 5 h 31 min atrás

U.S. Pending Home Sales Unexpectedly Surge To 11-Month High In October

The National Association of Realtors released a report on Tuesday showing an unexpected jump by pending home sales in the U.S. in the month of October. October said its pending home sales index shot up by 1.9 percent to 76.3 in October after inching up by 0.1 percent to an upwardly revised 74.9 in September. Economists had expected pending home sales to decrease by 0.4 percent.

RTTNews | 5 h 50 min atrás

U.S. Producer Price Growth Matches Estimates In September

A long-delayed report released by the Labor Department on Tuesday showed producer prices in the U.S. increased in line with economist estimates in the month of September. The Labor Department said its producer price index for final demand rose by 0.3 percent in September after edging down by 0.1 percent in August. The monthly price growth matched expectations.

RTTNews | 5 h 53 min atrás

U.S. Retail Sales Rise 0.2% In September, Less Than Expected

Retail sales in the U.S. increased by less than expected in the month of September, according to a long-delayed reported released by the Commerce Department on Tuesday. The Commerce Department said retail sales rose by 0.2 percent in September after climbing by 0.6 percent in August. Economists had expected retail sales to rise by 0.4 percent.

RTTNews | 6 h 10 min atrás

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