TSX Snaps 5-day Losing Streak, Ends Modestly Higher

RTTNews | Pred 1226 dňami
TSX Snaps 5-day Losing Streak, Ends Modestly Higher

(RTTNews) - The Canadian market ended modestly higher on Wednesday, led by gains in healthcare, technology and consumer discretionary sectors.

After opening on a firm note, the market pared some gains and moved slightly above the unchanged line till around mid afternoon when it briefly slipped into the red after the Fed announced a 75-basis point interest rate hike.

The Fed revealed that it has decided to raise the target rate for the federal funds rate by 75 basis points to 1.50 to 1.75%, marking the biggest rate hike since 1994.

The move comes as a recent report from the Labor Department showed consumer price inflation at the fastest annual rate in forty years.

The benchmark S&P/TSX Composite Index ended with a gain of 63.05 points or 0.32% at 19,611.56, after scaling a low of 19,383.69 and a high of 19,743.36 intraday.

The Health Care Capped Index climbed 3.05%. Bausch Health Companies (BHC.TO) and Canopy Growth Corp (WEED.TO) gained 5.4% and 5.1%, respectively. Cronos Group (CRON.TO) gained 3.8% and Aurora Cannabis (ACB.TO) ended 2.4% up.

In the technology section, Shopify Inc (SHOP.TO) and Lightspeed Commerce (LSPD.TO) climbed about 7% and 5.75%, respectively. BlackBerry (BB.TO), Nuvei Corp (NVEI.TO), Softchoice Corp (SFTC.TO), Sierra Wireless (SW.TO), Kinaxis Inc (KXS.TO) and Magnet Forensics (MAGT.TO) gained 3 to 7%.

Consumer discretionary stocks Magna International (MG.TO), Martinrea International (MRE.TO), Linamar Corp (LNR.TO), Sleep Country Canada Holdings (ZZZ.TO), BRP Inc (DOO.TO) and Park Lawn Corp (PLC.TO) moved up 2 to 4%.

Real estate stocks First Capital, Dream Industrial, Killam Apartment, Riocan Real Estate and Summit Industrial Income gained 1.7 to 2.7%.

Energy stocks Cenovus Energy (CVE.TO), Baytex Energy (BTE.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO), Imperial Oil (IMO.TO) and Crescent Point Energy (CPG.TO) declined sharply.

On the Canadian economic front, data from the Canada Mortgage and Housing Corporation showed housing starts in the country jumped by 8% over a month earlier to 267,330 units in April 2022.

read more
Canadian Market Headed For Another Strong Finish

Canadian Market Headed For Another Strong Finish

The Canadian market remains firmly up in positive territory Thursday afternoon, lifted by gains in energy, technology, materials and consumer discretionary stocks. Expectations of an interest rate cut by the Canadian central bank next week, and hopes the upcoming national budget will contain some proposals for huge funding in major initiatives.
RTTNews | Pred 3 h 20 min
Swiss Market Ends Moderately Lower

Swiss Market Ends Moderately Lower

The Switzerland market ended on a weak note on Thursday after languishing in negative territory right through the day's session.
RTTNews | Pred 3 h 52 min
European Markets Close Higher As Investors Focus On Earnings

European Markets Close Higher As Investors Focus On Earnings

European stocks closed higher on Thursday with investors mostly reacting to corporate earnings announcements. Concerns about geopolitical tensions and the potential impact of tariffs on global economic growth weighed a bit and limited markets' upside.
RTTNews | Pred 4 h 12 min
U.S. Existing Home Sales Increase In Line With Estimates In September

U.S. Existing Home Sales Increase In Line With Estimates In September

A report released by the National Association of Realtors on Thursday showed existing home sales in the U.S. increased in line with economist estimates in the month of September. NAR said existing home sales jumped by 1.5 percent to an annual rate of 4.06 million in September after dipping by 0.2 percent to an annual rate of 4.00 million in August. The rebound matched expectations.
RTTNews | Pred 5 h 30 min
Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Higher crude oil and metal prices point to a firm start for the Canadian market on Thursday. Investors are also expecting that the upcoming Canadian budget will contain some huge funding in major initiatives.
RTTNews | Pred 8 h 35 min
Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey's central bank reduced the pace of interest rate cuts on Thursday as inflation accelerated due to higher food prices. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Yasar Fatih Karahan, decided to reduce the policy rate by 100 basis points to 39.50 percent from 40.50 percent.
RTTNews | Pred 8 h 53 min
French Manufacturing Sentiment Strengthens Unexpectedly

French Manufacturing Sentiment Strengthens Unexpectedly

French manufacturing confidence strengthened unexpectedly in October to the highest level in more than a year, data from the statistical office INSEE showed on Thursday. The manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. Moreover, the score was the highest since March 2024.
RTTNews | Pred 10 h 25 min