Canadian Market Up Firmly In Positive Territory; Materials Shares Rally

RTTNews | Pred 727 dňami

(RTTNews) - The Canadian market is up firmly in positive territory around noon on Thursday, led by gains in energy and materials shares.

The undertone is quite firm amid easing fears of a U.S. debt default, and encouraging Chinese factory activity.

The U.S. House of Representatives approved a debt ceiling and budget cuts package on Wednesday. The bill now heads to the Senate, with passage expected by the weekend.

The benchmark S&P/TSX Composite Index is up 124.67 points or 0.64% at 19,696.91 a few minutes past noon.

The Materials Capped Index is surging nearly 2.5%. Filo Mining Corp (FIL.TO) is rising 8.7%. Fortuna Silver Mines (FVI.TO), Osisko Mining (OSK.TO), Algoma Steel Group (ASTL.TO), Equinox Gold Corp (EQX.TO), Eldorado Gold (ELD.TO), Iamgold Corp (IMG.TO), Ivanhoe Mines (IVN.TO), MAG Silver Corp (MAG.TO), Teck Resources (TECK.B.TO) and K92 Mining Inc (KNT.TO) are up 4 to 6.5%.

Among energy stocks, Precision Drilling Corp (PD.TO), Baytex Energy (BTE.TO), MEG Energy (MEG.TO), Crescent Point Energy (CPG.TO), PrairieSky Royalty (PSK.TO) and Cenovus Energy (CVE.TO) are gaining 2 to 4%.

Healthcare stocks Tilray Inc (TLRY.TO) and Canopy Growth Corp (WEED.TO) are up 5.8% and 2.7%, respectively. Sienna Senior Living Inc (SIA.TO) is gaining 1.7%.

Consumer discretionary stocks Linamar Corp (LNR.TO) and Restaurant Brands International (QSR.TO) are gaining 2.8% and 1.7%, respectively.

BRP Inc. (DOO.TO) reported first-quarter net profit of C$154.5 million, or C$1.92 per share, compared with net profit of C$121 million, or C$1.46 per share, in last year's first quarter. The stock is down by about 1.7%.

Laurentian Bank of Canada (LB.TO) is rising more than 4.5% after the bank reported net income of $49.3 million and diluted earnings per share of $1.11 for the second quarter of 2023, compared with $59.5 million and $1.34 for the second quarter of 2022.

Meanwhile, data from Markit Economics showed the S&P Global Canada Manufacturing PMI fell to 49 in May, slipping into the contractionary territory following the near stagnation of 50.2 in the previous month.

Canadian Market Slightly Lower; BoM, National Bank Rise On Results

The Canadian market is slightly down on Wednesday with stocks moving in a tight range as investors digest earnings updates from Bank of Montreal and National Bank of Canada, and await further developments on trade negotiations between the U.S. and its major trading partners.

RTTNews | Pred 28 minútami

Kingfisher Q1 Sales Rise, Says Confident Of FY25 View; But Stock Down

Home improvement retailer Kingfisher Plc reported Wednesday higher sales in its first quarter, benefited by improved results in UK & Ireland. Meanwhile, sales in France and Poland declined, and the company maintained its fiscal 2025 outlook. On the London Stock Exchange, Kingfisher shares were losing around 3.5 percent.

RTTNews | Pred 3 h 56 min

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Wednesday morning with investors tracking global cues and reacting to earnings from major Canadian banks. Investors are also awaiting earnings update from U.S.

RTTNews | Pred 4 h 8 min

FTSE 100 Down Marginally

UK stocks are marginally down in lackluster trade on Wednesday as investors look for directional clues after recent gains following U.S. President Donald Trump deciding to pause the recently announced 50% tariffs on imports from EU, paving the way for further trade negotiations.

RTTNews | Pred 4 h 57 min

German Unemployment Rises More Than Expected

Joblessness in Germany increased more than expected in May as a weak economy continued to impede job creation, official data revealed on Wednesday. The number of unemployed increased sharply by 34,000 in May compared to April's rise of 6,000, the Federal Employment Agency said. Economists expected a monthly increase of 12,000.

RTTNews | Pred 5 h 2 min