Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian shares are likely to see a mixed start on Thursday, with investors reacting to updates from big-name U.S. companies Netflix and Tesla, and tracking commodity prices.
In Canadian earnings news, Mullen Group Ltd. (MTL.TO) reported second-quarter adjusted net earnings of $34.7 million, or $0.41 per share, compared with adjusted net earnings of $44.1 million, or $0.46 per share in the second-quarter of the previous year.
The Canadian marked ended on a firm note on Wednesday, extending recent gains, as soft Euro area and UK inflation data aided sentiment. Rising expectations that the Federal Reserve will end its tightening cycle sometime soon contributed as well to the positive mood in the market.
The benchmark S&P/TSX Composite Index ended with a gain of 114.60 points or 0.56% at 20,491.17.
Asian stocks closed broadly lower on Thursday amid disappointment over weak tech earnings in the U.S., and on anxiety ahead of earnings report by chip maker TSMC.
The major European markets are up in positive territory Thursday afternoon, led by gains in materials and healthcare sectors. Easing concerns about interest rates after data showing consumer prices cooling down in several countries in the U.S. and the U.K., appear to be aiding sentiment.
In commodities, West Texas Intermediate Crude oil futures are up $0.12 or 0.15% at $75.47 a barrel.
Gold futures are gaining $3.50 or 0.18% at $1,984.30 an ounce, while Silver futures are up $0.023 or 0.1% at $25.410 an ounce.
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