Bay Street Likely To Open Lower On Weak Commodity Prices

RTTNews | 1105 gün önce

(RTTNews) - Lower crude oil and bullion prices point to a negative start for Canadian shares on Friday.

Investors are likely to react to a slew of earnings news, and economic data, as well for direction.

In earnings news, Yamana Gold Inc. (YRI.TO) reported that its third quarter net earnings declined to $19.8 million or $0.02 per share from $27.0 million or $0.03 per share in the prior year.

Adjusted net earnings were $44.5 million or $0.05 per share compared to $73.7 million or $0.08 per share in the prior year.

Fortis Inc. (FTS.TO) reported that its third-quarter net earnings attributable to equity shareholders was C$326 million or C$0.68 per share, compared to C$295 million or C$0.63 per share last year.

Imperial Oil Ltd. (IMO.TO) reported estimated net income in the third quarter of $2,031 million, compared to $2,409 million in the second quarter of 2022.

Air Canada (AC.TO) reported a net loss of $508 million in the third quarter of this financial year, compared to a net loss of $640 million a year ago.

On the economic front, final data on Canadian GDP for the month of August, and a preliminary reading of GDP for the month of September are due at 8:30 AM ET.

The Canadian market ended modestly higher on Thursday, led by gains in technology stocks.

The benchmark S&P/TSX Composite Index, which rose to a one-month high at 19,516.36 early on in the session, gave up most of its gains as the day progressed and finally settled at 19,352.11, up 72.35 points or 0.38% from the previous close.

Asian stocks ended broadly lower on Friday as investors digested the monetary policy announcements from the ECB and BoJ and looked ahead to next week's FOMC meeting for clues on whether a pivot on the pace of rate hikes is on the table.

After opening notably lower on weak results from U.S. tech majors and a few big-name European companies, European stocks are slowly regaining lost ground.

In commodities trading, West Texas Intermediate Crude oil futures for December are down $0.75 or 0.8% at $88.33 a barrel.

Gold futures are down $12.20 or 0.74% at $1,653.40 an ounce, while Silver futures are down $0.229 or 1.17% at $19.265 an ounce.

U.S. Dollar Falls Amid Risk-off Mood

The U.S. dollar weakened against other major currencies in the Asian session on Thursday amid increased risk-off sentiment, as some traders looked to pick up stocks at reduced levels following the recent sell-off. Traders also react to upbeat private U.S. economic data and growing expectations that the U.S. Supreme Court may reject the Trump administration's aggressive trade policy.

RTTNews | 1s 6 dakika önce

German Industrial Production Recovers In September

Germany's industrial production recovered in September driven by the rebound in the auto industry, official data revealed on Thursday. Industrial output expanded 1.3 percent from August, when it was down 3.7 percent, Destatis reported. Economists had forecast a monthly growth of 3.0 percent. Year-on-year, industrial production logged a slower decline of 1.0 percent, following a 3.6 percent fall.

RTTNews | 1s 24 dakika önce

U.S. Dollar Falls Against Majors

The U.S. dollar weakened against other major currencies in the Asian session on Thursday.

RTTNews | 2s 49 dakika önce

European Economic News Preview: Bank Of England Set To Hold Rates

The Bank of England is expected to hold its benchmark rate on Thursday as policymakers await the Autumn Budget announcement. Markets widely expect the BoE to maintain the bank rate at 4.00 percent in a split vote. The current rate is the lowest since early 2023. The policy decision is due at 7.00 am ET.

RTTNews | 3s 0 dakika önce

European Shares Set For A Firm Start

European stocks are seen opening broadly higher on Thursday as solid U.S. private sector employment and services sector activity data helped calm investor worries about stretched valuations.

RTTNews | 3s 55 dakika önce

Sensex, Nifty Open Higher On Firm Global Cues

Indian shares opened a tad higher on Thursday, mirroring mostly positive cues from global markets as solid U.S. private sector employment and services sector activity data helped calm investor worries about stretched valuations.

RTTNews | 4s 54 dakika önce

Australian Market Halves Its Early Gains In Mid-market

The Australian market is halving its early gains in mid-market moves on Thursday, reversing some of the losses in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,800 level, with gains across most sectors led by mining and energy stocks amid rebounding commodity prices.

RTTNews | 6s 11 dakika önce

Asian Markets Track Wall Street Higher

Asian markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as some traders looked to pick up stocks at reduced levels following the recent sell-off. Traders also react to upbeat private US economic data and growing expectations that the US Supreme Court may reject the Trump administration's aggressive trade policy.

RTTNews | 6s 38 dakika önce

EURUSD	1.15077	GBPUSD	1.30642	AUDUSD	0.65053
USDJPY	153.712	USDCAD	1.41021	USDCHF	0.8097