Bay Street Likely To See Mixed Start

RTTNews | 749 dias atrás

(RTTNews) - Canadian shares are likely to open on a somewhat mixed note on Friday, tracking weak European stocks and slightly higher oil and gold prices.

Concerns about slowing Chinese economy and hawkish comments from San Francisco Fed President Mary Daly might hurt sentiment.

In Canadian earnings news, Emera Inc. (EMA.TO) reported second-quarter net income of $28 million, or $0.10 per common share, compared with a net loss of $67 million, or $0.25 per common share, in the second quarter of the previous financial year.

Air Canada (AC.TO) reported adjusted net income of $838 million for the second quarter of this financial year, as against net loss of $386 milion in the year-ago quarter.

Power Corporation of Canada (POW.TO) reported adjusted net earnings of $847 million, or $1.27 per share for the second quarter, compared with $647 million or $0.97 per share in the year-ago quarter.

The Canadian market ended modestly higher on Thursday as tamer-than-expected U.S. consumer inflation data reinforced expectations the Federal Reserve will leave interest rates unchanged at its next meeting.

The benchmark S&P/TSX Composite Index ended with a gain of 67.61 points or 0.33% at 20,342.88 after scaling a low of 20,279.72 and a high of 20,444.64 intraday.

Asian stocks closed weak on Friday, as growing concerns over China's economy as well as worsening relations between the U.S. and China overshadowed hopes for Fed rate pause.

China has accused Washington of blocking its development and warned that new restrictions to limit tech investments in China would hurt global supply chains.

European stocks are down firmly in negative territory Friday afternoon, weighed down by hawkish comments from a Federal Reserve official and uncertainty about the outlook for China's economic growth.

In commodities, West Texas Intermediate Crude oil futures are up $0.37 or 0.45% at $83.19 a barrel.

Gold futures are up $2.00 or 0.1% at $1,950.90 an ounce, while Silver futures are down $0.041 or 0.17% at $22.780 an ounce.

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U.S. Consumer Prices Increase In Line With Estimates In July

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German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

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