Canadian Market Down In Negative Territory Despite Soft Inflation Data

RTTNews | 707 dagar sedan

(RTTNews) - Despite soft inflation data, the Canadian market is down in negative territory a little past noon on Tuesday, weighed down by losses in consumer discretionary, industrials and utilities sectors.

Technology and consumer staples shares are also weak. Materials shares are gaining, lifted by higher bullion prices.

The benchmark S&P/TSX Composite Index is down 97.09 points or 0.48% at 20,149.38 a few minutes past noon.

Stelco Holdings (STLC.TO) is down 7.6%. George Weston (WN.TO) is down 4% after reporting a 31.4% drop in third quarter net earnings.

Bombardier Inc (BBD.B.TO), Magna International (MG.TO), Linamar Corporation (LNR.TO), Precision Drilling Corporation (PD.TO) and Waste Connections (WCN.TO) are down 3 to 4%.

BRP Inc (DOO.TO), Stantec Inc (STN.TO), Restaurant Brands International (QSR.TO) and WSP Global (WSP.TO) are lower by 1 to 2.5%.

Alamos Gold (AGI.TO), Eldorado Gold Corporation (ELD.TO), Osisko Gold Royalties (OR.TO) and Wheaton Precious Metals (WPM.TO) are up 3 to 5%.

Newmont Corporation (NGT.TO), Agnico Eagle Mines (AEM.TO), Sprott Inc (SII.TO), Cargojet Inc (CJT.TO) and Colliers International (CIGI.TO) are also notably higher.

Data from Statistics Canada showed the annual inflation rate in Canada fell to 3.1% in October of 2023 from 3.8% in the previous month. The result was softer than the Bank of Canada's forecast that inflation is likely to remain close to 3.5% through the middle of next year.

The core inflation rate fell slightly to 2.7%, while the closely-watched trimmed-mean core rate dropped to 3.5%, compared to expectations of 3.7%. From the previous month, consumer prices edged 0.1% higher.

Meanwhile, new home prices in Canada fell by 0.8% from the previous year in October, following a 1% drop in September and marking the seventh consecutive decrease since November 2019.

New home prices in Canada remained unchanged month-on-month in October 2023, following a 0.2% drop in September and in line with market forecasts.

Australian Market Sharply Extends Early Losses In Mid-market

The Australian stock market is sharply expending its early losses in mid-market moves on Wednesday, reversing the losses in the previous session, with the benchmark S&P/ASX 200 falling below the 8,950 level, despite the broadly positive cues from Wall Street overnight, as domestic inflation jumped higher-than-expected, with weakness in financial and technology stocks.>

RTTNews | 20 minuter sedan

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and are reluctant to make more significant moves ahead of the U.S. Fed's interest rate decision later in the day and are optimistic about a potential trade deal between the U.S. and China. Asian markets closed mostly lower on Tuesday.

RTTNews | 44 minuter sedan

Sensex, Nifty Seen Higher On Firm Global Cues

Indian shares look set to open higher on Wednesday, mirroring firm cues from global markets following upbeat news from Nvidia and Microsoft.

RTTNews | 1h 4minuter sedan

Thai Shares May See Renewed Support On Wednesday

The Thai stock market on Tuesday ended the five-day winning streak in which it had picked up more than 50 points or 3.9 percent. The Stock Exchange of Thailand now rests just shy of the 1,315-point plateau although it may tick higher again on Wednesday.

RTTNews | 1h 49minuter sedan

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Wednesday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 50,800 level, with gains in exporters and technology stocks.

RTTNews | 2h 31minuter sedan

China Shares Poised To Open In The Green

The China stock market on Tuesday ended the three-day winning streak in which it had collected more than 80 points or 2 percent. The Shanghai Composite Index now sits just shy of the 3,990-point plateau although it may move higher again on Wednesday.

RTTNews | 2h 49minuter sedan

Australian Market Modestly Lower

Australian shares are trading modestly lower on Wednesday, reversing some of the losses in the previous session, with the benchmark S&P/ASX 200 falling well below the 9,000 level, despite the broadly positive cues from Wall Street overnight, with weakness in financial and technology stocks.

RTTNews | 2h 55minuter sedan

Tech Shares May Boost Taiwan Stock Market

The Taiwan stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had slumped more than 220 points or 0.8 percent. The Taiwan Stock Exchange now sits just shy of the 27,950-point plateau although it may find renewed support on Wednesday.

RTTNews | 3h 19minuter sedan

EURUSD	1.16387	GBPUSD	1.32521	AUDUSD	0.6599
USDJPY	151.992	USDCAD	1.39375	USDCHF	0.79393