Bay Street Seen Opening On Negative Note

RTTNews | 1132 gün önce

(RTTNews) - Lower futures and falling commodity prices point to a weak start for the Canadian stock market on Monday. Worries about a surge in coronavirus cases and fresh curbs in China are also likely to weigh.

With more inflation data from the U.S. due this week, and the Canadian central bank set to announce its interest rate decision on Wednesday, the mood in the market is likely to remain extremely cautious.

In corporate news, Link Administration Holdings Limited (LNK) on Monday rejected a A$4.57 per share revised buy-out proposal from Dye & Durham Limited (DND.TO).

Dye & Durham Limited last week made a second revised proposal to Link Administration with respect to its offer to acquire Link Group. Dye & Durham's latest proposal of up to A$4.70 per Link Group share is comprised of A$4.57 per share in base consideration under the proposed acquisition's scheme implementation deed and up to A$0.13 per share contemplated under the scheme implementation deed for the proceeds from the sale of Link Group's Banking and Credit Management business.

The Canadian stock market ended modestly lower on Friday with investors making largely cautious moves, after Canadian employment data raised expectations that the Bank of Canada will announce a sharp rate hike next week.

The benchmark S&P/TSX Composite Index ended with a loss of 40.31 points or 0.21% at 19,022.86, well off the day's low of 18,897.74. The index gained about 0.9% in the week.

Asian stocks ended broadly lower on Monday as upbeat U.S. jobs data rekindled worries over aggressive policy tightening and parts of China's financial hub faced more rounds of mass testing to fight rising COID-19 infections.

Shanghai reported its first case of the highly infectious BA.5 omicron sub-variant on Sunday and warned of "very high" risks, raising fears about more lockdowns.

Despite coming off early lows, European stocks are firmly down in negative territory a little past noon today amid worries about corporate earnings outlook, energy crisis following Russia turning off Nord Stream 1, and fresh Covid-19 curbs in China.

In commodities trading, West Texas Intermediate Crude oil futures are down $2.31 or 2.2% at $102.48 a barrel.

Gold futures are down $9.50 or 0.55% at $1,732.80 an ounce, while Silver futures are lower by $0.091 or 0.47% at $19.145 an ounce.

Euro Higher Against Majors

The euro appreciated against its major counterparts in the New York session on Friday.

RTTNews | 14s 30 dakika önce

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.

RTTNews | 17s 20 dakika önce

Swiss Market Ends On Firm Note

The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.

RTTNews | 17s 48 dakika önce

European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.

RTTNews | 18s 6 dakika önce

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | 19s 44 dakika önce

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | 20s 2 dakika önce

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | 20s 31 dakika önce

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | 20s 55 dakika önce

EURUSD	1.1698	GBPUSD	1.3551	AUDUSD	0.6504
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