Higher Commodity Prices Pointing To Positive Start On Bay Street

RTTNews | 1069 dias atrás

(RTTNews) - The Canadian market is likely to open higher Thursday morning, tracking firm crude oil and bullion prices.

The focus will be on ECB's interest rate decision and ECB Chief Christine Lagarde's press conference.

The European Central Bank's rate decision is due at 8:15 AM ET. The bank is widely expected to go for a large, 50-basis-point rate hike or a record 75-basis-point one, given the record high inflation and the tightening stance of its global peers.

ECB chief Lagarde is set to hold customary press conference at 8.45 am ET.

Federal Reserve Chair Jerome Powell's speech at 09:10 ET at a conference organized by the Cato Institute will also be in focus for additional clues on inflation and growth outlook.

In Canadian company news, Equinox Gold Corporation (EQX.TO) said that it has temporarily stopped its mining works at its Los Filos Mine in Mexico, citing an illegal blockade by members of the nearby Mezcala community. The miner also noted that it will engage with community to find a solution that allows the mine to resume full operations.

The North West Company Inc. (NWC.TO) announced on Wednesday that its second-quarter net earnings decreased to $32.4 million compared to $42.4 million last year.

After a weak start, the Canadian market emerged higher Wednesday morning and stayed firm right till the end of the session to finish on a fairly strong note.

As widely expected the Bank of Canada raised its key rates by 75 basis points and signaled further tightening in the coming months to fight inflation. The benchmark S&P/TSX Composite Index ended with a gain of 153.29 points or 0.8% at 19,241.44.

Asian stocks followed their U.S. peers higher on Thursday, though Chinese and Hong Kong stocks ended on a subdued note on news of extended lockdowns in the Chinese city of Chengdu.

The mood was cautious as investors awaited the ECB rate decision and a speech by U.S. Federal Reserve Chair Jerome Powell.

European stocks are modestly higher with investors looking ahead to the ECB rate decision and an announcement on U.K. Prime Minister Liz Truss's energy bill support package later in the day.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.52 or 0.63% at $82.46 a barrel.

Gold futures are gaining $7.00 or 0.41% at $1,734.80 an ounce, while Silver futures are up $0.325 or 1.78% at $18.585 an ounce.

Swiss Market Settles Marginally Higher

The Switzerland market ended marginally up on Tuesday after a choppy ride, with investors mostly making their moves, reacting to recent earnings updates.

RTTNews | 29 minutos atrás

European Stocks Close Broadly Higher On Fed Rate Cut Hopes, Easing Trading Tensions

European stocks closed broadly higher on Tuesday amid easing trade tensions after the U.S. extended its pause on higher tariffs for Chinese goods until November 10, averting an immediate escalation in the trade war. Expectations of a rate cut by the Federal Reserve in September contributed as well to the positive show by most of the markets in Europe.

RTTNews | 49 minutos atrás

Canadian Market Modestly Higher

The Canadian market is up in positive territory around early afternoon on Tuesday, supported by gains in communications, healthcare, financials and technology sectors. Easing trade tensions, and expectations of an interest rate cut by the Federal Reserve next month appear to be aiding sentiment.

RTTNews | 1 h 26 min atrás

UK Labor Market Cools In Q2

The U.K. labor market softened in the second quarter as wage growth eased, the unemployment rate held steady at a four-year high and job vacancies continued to decline sharply, official data revealed on Tuesday. The ILO jobless rate held steady at 4.7 percent in the second quarter, figures from the Office for National Statistics revealed and was in line with expectations.

RTTNews | 4 h 50 min atrás

U.S. Consumer Prices Increase 0.2% In July, In Line With Estimates

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to a report released by the Labor Department on Tuesday. The Labor Department said its consumer price index rose by 0.2 percent in July after climbing by 0.3 percent in June. The modest increase matched expectations.

RTTNews | 5 h 1 min atrás

Cardinal Health Lifts FY26 Outlook, But Stock Down As Q4 Revenues Miss Street; To Buy Solaris Health

Shares of Cardinal Health, Inc. were losing around 6% in the pre-market activity after the company's fourth-quarter top line missed the market view, even as profit beat the Street. In addition, the health care service provider raised its fiscal 2026 outlook, also above market estimates. Separately, Cardinal Health announced that its multi-specialty management services organization or MSO platform

RTTNews | 5 h 26 min atrás

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

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to a report released by the Labor Department on Tuesday.

RTTNews | 5 h 46 min atrás

German ZEW Economic Confidence Deteriorates On Trade Deal

Economic sentiment in Germany deteriorated sharply in August due to the disappointing trade agreement reached with the United States, and also due to the declining economic output in the second quarter, results of the monthly survey conducted by the think tank ZEW showed on Tuesday. The ZEW Indicator of Economic Sentiment plummeted to a three-month low of 34.7 in August.

RTTNews | 6 h 20 min atrás

EURUSD	1.1669	GBPUSD	1.34993	AUDUSD	0.6529
USDJPY	147.768	USDCAD	1.37728	USDCHF	0.80768