Canadian Market Down In Negative Territory As Investors React To Earnings

RTTNews | Pred 554 dňami

(RTTNews) - The Canadian market is down firmly in negative territory at noon on Thursday with stocks from across several sectors reeling under selling pressure amid uncertainty about the outlook for interest rates.

Investors are also reacting to a slew of earnings announcements from Canadian companies.

Communications, utilities, financials, materials and consumer staples stocks are among the major losers. Technology stocks are finding some support. Energy, real estate and consumer discretionary stocks are turning in a mixed performance.

The benchmark S&P/TSX Composite Index, which dropped to 20,794.59, is down 106.34 points or 0.51% at 20,862.82 at noon.

Communications stock BCE Inc (BCE.TO) is down 4.6%. BCE reported adjusted net income of $691 million for the fourth quarter of 2023, compared to $654 million a year ago.

Telus Corp (T.TO) is down 2.5%, while Quebecor Inc (QBR.TO) and Rogers Communications (RCI.B.TO) are down 1.3% and 1.2%, respectively.

Utilities stocks Brookfield Renewable Partners (BEP.UN.TO), Innergex Renewable Energy (INE.TO), Northland Power (NPI.TO) and Boralex Inc (BLX.TO) are down 2.4 to 3.5%.

In the materials sector, Lithium Americas Argentina Corp (LAAC.TO), Algoma Steel (ASTL.TO), Ccl Industries (CCL.B.TO), Interfor Corp (IFP.TO) and Osisko Gold Royalties (BR.TO) are lower by 2.5 to 3.7%.

Fairfax Financial Holdings (FFH.TO) is plunging 11.6%, with research firm Muddy Waters revealing that it has taken a short position at the counter, alleging that the group has manipulated asset values and income by "engaging in value destructive transactions aimed at generating accounting gains".

CDN Western Bank (CWB.TO), Bank of Nova Scotia (BNS.TO), Manulife Financial (MFC.TO), Royal Bank of Canada (RY.TO) and Toronto-Dominion Bank (TD.TO) are lower by 1 to 1.5%.

Thomson Reuters Inc (TRI.TO) is up 3% after the company reported adjusted EBITDA of US$707 million for the quarter ended December 2023, compared with US$633 million in the year-ago quarter.

Colliers International Group Inc. (CIGI.TO) is gaining 4.5%. The company reported fourth-quarter revenues of US$1,235.2 million, compared with US$1,222.4 million in the year-ago quarter.

Bombardier Inc (BBD.A.TO) is down 14%. The company reported adjusted EBITDA of $1.23 billion for 2023, up 32% from the previous year.

Lightspeed Commerce Inc (LSPD.TO) is plunging 19%. The company reported third-quarter net loss of $40.2 million, compared to a net loss of $814.8 million in the year-ago quarter.

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.

RTTNews | Pred 1 h 50 min

Swiss Market Ends On Firm Note

The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.

RTTNews | Pred 2 h 18 min

European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.

RTTNews | Pred 2 h 37 min

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | Pred 4 h 14 min

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | Pred 4 h 32 min

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | Pred 5 h 1 min

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | Pred 5 h 26 min

U.S. Consumer Sentiment Index Unexpectedly Decreases In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday.

RTTNews | Pred 5 h 52 min

EURUSD	1.17017	GBPUSD	1.35549	AUDUSD	0.65075
USDJPY	147.224	USDCAD	1.38137	USDCHF	0.80645