TSX Ends On Firm Note; Technology, Energy Stocks Rally

RTTNews | Pred 815 dňami

(RTTNews) - The Canadian market closed on a firm note on Tuesday, aided by strong gains in technology, energy and financials shares.

Several stocks from materials and real estate sectors too posted impressive gains.

The market started off on a somewhat subdued note, but gained in strength as the day progressed.

Investors, in addition to digesting the latest batch of economic data, looked ahead to the Bank of Canada's interest rate decision.

The BoC, which is scheduled to announce its monetary policy on Wednesday, is widely expected to hold its key interest rate at 4.5%.

The benchmark S&P/TSX Composite Index ended higher by 123.98 points or 0.62% at 20,055.60.

Technology stock Shopify Inc (SHOP.TO) climbed nearly 6%. Bitfarms (BITF.TO), Coveo Solutions (CVO.TO), Sylogist (SYZ.TO), Converge Technology Solutions (CTS.TO), Lightspeed Commerce (LSPD.TO), Kinaxis Inc (KXS.TO) and Docebo Inc (DCBO.TO) gained 2 to 4%.

Energy stocks Cenovus Energy (CVE.TO), PrairieSky Royalty (PSK.TO), Arc Resources (ARX.TO), Imperial Oil (IMO.TO), Crescent Point Energy (CPG.TO), Tourmaline Oil Corp (TOU.TO), Enerplus Corp (ERF.TO) and Suncor Energy (SU.TO) climbed 1 to 2.2%.

In the financials section, Onex Corp (ONEX.TO) surged 4%. Bank of Montreal (BMO.TO), Laurentian Bank (LB.TO), Canadian Imperial Bank of Commerce (CM.TO) and Nuvei Corp (NVEI.TO) ended higher by 1.7 to 2%.

Real estate stocks Colliers International (CIGI.TO), Allied Properties Real Estate (AP.UN.TO) and Northwest Healthcare Prop (NWH.UN.TO) gained 1.8 to 2%, while Storagevault Canada (SVI.TO) surged about 4.3%.

The Ivey Purchasing Managers Index in Canada dropped further to 53.5 in May 2023, from 56.6 in the prior month. The reading indicates the Canadian economic activity slowed for a second month and the most in three months.

Data from Statistics Canada showed the total value of building permits in Canada shrank by 18.8% from a month earlier to $9.6 billion in April, after an upwardly revised 12.3% growth in the previous month.

U.S. Dollar Falls Against Most Majors

The U.S. dollar weakened against its most major counterparts in the New York session on Friday.

RTTNews | Pred 11 h 26 min

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.

RTTNews | Pred 12 h 46 min

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

RTTNews | Pred 14 h 59 min

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | Pred 15 h 35 min

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | Pred 16 h 4 min

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | Pred 18 h 49 min

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | Pred 19 h 7 min

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 closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | Pred 19 h 51 min

EURUSD	1.1684	GBPUSD	1.34987	AUDUSD	0.6538
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