Bay Street Likely To Open On Positive Note

RTTNews | 328 dias atrás

(RTTNews) - Higher crude oil and bullion prices point to a positive start for the Canadian market on Thursday. Investors are likely to track quarterly earnings updates from Canadian and U.S. companies.

Rogers Communications Inc. (RCI.A.TO) reported adjusted net income of $762 million for the quarter ended September 30, 2024, compared with $679 million in the year-ago quarter.

FirstService Corporation (FSV.TO) reported operating earnings of $125.9 million for the third-quarter of this financial year, up from $73.6 million in the year-ago quarter.

Mullen Group (MTL.TO) reported a net income of $38.3 million for the quarter ended September 30, 2024, compared with $39.1 million a year ago.

Celestica Inc (CLS.TO) reported revenue of $2.50 billion for the third quarter of 2024, up 22% from $2.04 billion in the corresponding quarter of the previous year.

The Canadian market ended weak on Wednesday, hurt by losses in technology, energy and materials stocks. Despite the Bank of Canada's decision to cut interest rates by 50 basis points, the mood in the market remained bearish amid concerns about the outlook for economic growth and due to persisting Middle East tensions.

The benchmark S&P/TSX Composite Index ended down 143.08 points or 0.58% at 24,573.62, about 20 points off the day's low of 24,453.40. The index remained in negative territory right through the day's session.

The Canadian central bank cut rates by a half point today, as widely expected, reducing its target for the overnight rate by 50 basis points to 3.75%, with the Bank Rate at 4% and the deposit rate at 3.75%.

Asian stocks ended mostly lower on Thursday as rising yields on uncertainty over the U.S. election outcome weighed on the tech sector. Tesla's forecast-beating earnings provided some comfort for investors, helping limit regional losses.

European stocks are up in positive territory, reacting to strong earnings from a slew of companies, and dovish comments from Bank of England Governor Andrew Bailey.

In commodities, West Texas Intermediate crude oil futures are up $0.50 or 0.7% at $71.27 a barrel.

Gold futures are gaining $20.50 or 0.75% at $2,749.90 an ounce, while Silver futures are up $0.421 or 1.25% at $34.260 an ounce.

Canadian Market Modestly Higher At Noon; BoC Lowers Interest Rate

Canadian stocks are up in positive territory around noon on Wednesday with investors reacting to the Bank of Canada's decision to cut interest rates by 25 basis points. The recent weak labor market data and economic slowdown have raised prospects of further easing by the Canadian central bank.

RTTNews | 12 minutos atrás

Bank Of Canada Lowers Interest Rates By A Quarter Point

After leaving interest rates unchanged for three straight meetings, the Bank of Canada on Wednesday announced its widely expected decision to lower rates by a quarter point. The Bank of Canada said it decided to reduce its target for the overnight rate by 25 basis points to 2.5 percent, with the Bank Rate at 2.75 percent and the deposit rate at 2.45 percent.

RTTNews | 54 minutos atrás

U.S. Housing Starts Pull Back Much More Than Expected In August

After reporting significant increases in new residential construction in the U.S. over the two previous months, the Commerce Department released a report on Wednesday showing housing starts pulled back by much more than expected in the month of August. The Commerce Department said housing starts plummeted by 8.5 percent to an annual rate of 1.307 million in August.

RTTNews | 1 h 54 min atrás

UK Inflation Unchanged At 3.8%

U.K. consumer price inflation remained sticky in August on higher food prices, official data showed Wednesday, ahead of the policy announcement by the Bank of England on Thursday. The consumer price index rose 3.8 percent on a yearly basis in August, the same rate of increase as seen in July, the Office for National Statistics reported. Inflation matched economists' expectations and stood well ab

RTTNews | 3 h 5 min atrás

U.S. Housing Starts Plunge 8.5% In August, Much More Than Expected

RTTNews | 3 h 37 min atrás

Bay Street Seen Opening On Cautious Note; BoC, Fed Rate Decisions Eyed

The Canadian market is likely to open on a cautious note on Wednesday, with investors awaiting monetary policy announcements from the Bank of Canada and the Federal Reserve. Weak commodity prices may weigh on resources stocks.

RTTNews | 4 h 18 min atrás

Bank Indonesia Cuts Rate Unexpectedly

Indonesia's central bank reduced its key interest rate unexpectedly to the lowest level since 2022 to stimulate economic growth and also raised expectations for more reductions. The Bank Indonesia board, governed by Perry Warjiyo, decided to cut the BI rate by 25 basis points to 4.75 percent. Markets anticipated the central bank to hold the rate this time amid political unrest.

RTTNews | 4 h 36 min atrás

Indian Rupee Rises To Near 3-week High On Trade Talk Optimism

The Indian rupee strengthened against the U.S. dollar in the Asian session on Wednesday, after India and the U.S. agreed to speed up talks on a bilateral trade.

RTTNews | 4 h 45 min atrás

EURUSD	1.18491	GBPUSD	1.36644	AUDUSD	0.66674
USDJPY	146.326	USDCAD	1.37579	USDCHF	0.78695