Bay Street Seen Opening Higher

RTTNews | 1004 gün önce

(RTTNews) - Higher commodity prices and positive cues from Asian and European markets point to a higher start for Canadian shares on Tuesday.

In company news, Bank of Nova Scotia (BNS.TO) reported fourth-quarter net income of C$1.95 billion or C$1.63 per share, down from C$2.41 billion or C$1.97 per share in the prior-year quarter.

Royal Bank of Canada (RY.TO) announced Monday that it has signed an agreement to acquire 100% of the common shares of HSBC Bank Canada, a premier Canadian personal and commercial bank, for an all-cash purchase price of C$13.5 billion.

On the economic front, data on Canadian GDP growth for the third quarter is due at 8:30 AM ET. Canada's GDP expanded by 0.8% on the quarter during the April-June quarter, equaling the growth rate from the previous period to mark four consecutive quarters of growth.

The Canadian market closed notably lower on Monday, weighed down by losses in materials, energy and financials sections. The mood was quite bearish in the market due to concerns about the growing unrest in China amid widespread protests against the government's zero-Covid policy.

The benchmark S&P/TSX Composite Index ended with a loss of 163.28 points or 0.8% at 20,220.49. The index dropped to a low of 20,178.80 in the session.

Asian stocks ended higher on Tuesday, with mainland China and Hong Kong markets leading the surge, as China reported a slight dip in new COVID-19 infections and China reopening rumors swirled ahead of a press conference later in the day on COVID prevention and control measures.

China's Shanghai Composite index jumped 2.31%, while Hong Kong's Hang Seng index surged 5.24%.

After a positive start and a subsequent drop to lower levels, European stocks are up again in early afternoon trades on Tuesday amid hopes the Chinese government will relax its zero-Covid policy sometime soon.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.60 or 2.07% at $78.84 a barrel.

Gold futures are gaining $13.20 or 0.75% at $1,753.50 an ounce, while Silver futures are up $0.335 or 1.6% at $21.250 an ounce.

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 | 34 dakika önce

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 | 1s 11 dakika önce

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 | 1s 39 dakika önce

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 | 4s 24 dakika önce

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 | 4s 43 dakika önce

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 | 5s 26 dakika önce

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 5s 56 dakika önce

U.S. PCE Price Index Increased 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.

RTTNews | 6s 8 dakika önce

EURUSD	1.1697	GBPUSD	1.35062	AUDUSD	0.65435
USDJPY	146.985	USDCAD	1.37323	USDCHF	0.79993