Canadian Market Modestly Higher In Cautious Trade After Inflation Data

RTTNews | 1055 gün önce
Canadian Market Modestly Higher In Cautious Trade After Inflation Data

(RTTNews) - The Canadian market is modestly higher a little past noon on Wednesday, recovering slightly thanks to strong buying in technology and healthcare sectors after a mild setback.

Stocks from the rest of the sectors are turning in a mixed performance amid cautious moves by investors after data showed an acceleration in consumer price inflation in the month of June.

The benchmark S&P/TSX Composite Index is up 29.70 points or 0.16% at 18,967.41. The index touched a low of 18,845.15 earlier in the session.

The Health Care Capped Index is up nearly 7%. Canopy Growth Corp (WEED.TO) is soaring 18.5%. Tilray Inc (TLRY.TO) is climbing 13.5% and Aurora Cannabis (ACB.TO) is surging 11.3%, Cronos Group (CRON.TO) is rising 8.5% and Bausch Health Companies (BHC.TO) is advancing 5.4%.

The Information Technology Capped Index is up 4% with stocks rising sharply, tracking gains in Nasdaq after Netflix's upbeat forecast. Hut 8 Mining (HUT.TO), extending recent gains, is up as much as 9.5%. Lightspeed Commerce (LSPD.TO) is surging 9% and Shopify Inc (SHOP.TO) is moving up 8.7%.

Tecsys (TCS.TO), Dye & Durham (DND.TO), Nuvei Corp (NVEI.TO), Magnet Forensics (MAGT.TO), BlackBerry (BB.TO), Enghouse Systems (ENGH.TO), Constellation Software (CSU.TO), Kinaxis (KXS.TO) and Quarterhill (QTRH.TO) are also up sharply.

Data from Statistics Canada showed the country's annual inflation rate accelerated to 8.1% in June of 2022, the highest since January 1983. However, that was below market expectations of 8.4%.

On a monthly basis, consumer prices rose 0.7%, below expectations of a 0.9% increase and down from the 1.4% jump in May.

Core consumer prices in Canada increased 6.2% in June of 2022 over the same month in the previous year. It is the highest core inflation rate since at least 1984.

Another data from Statistics Canada showed producer prices in Canada fell 1.1% month-over-month in June, following an upwardly revised 1.8% increase in May. It was the first slowdown in producer prices since August of last year. Year-on-year, producer prices rose by 14.3% in June, slowing from a 15.7% jump in the previous month.

The Raw Materials Price Index in Canada edged down 0.1% on a monthly basis in June of 2022, after rising 2.7% in May. Raw materials prices increased 32.4% in June, slowing slightly from a 37.6% increase a month earlier.

read more
FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

FDA, CDC Probe Salmonella Outbreak As Around 1.70 Mln Dozen Brown Eggs Recalled

The U.S. Food and Drug Administration and the Centers for Disease Control and Prevention or CDC are investigating a Salmonella Enteritidis outbreak linked to brown eggs that sickened nearly 79 across 7 states. Associated with the ongoing probe, August Egg Co. recalled around 1.70 million dozen brown cage-free and brown certified organic eggs sold through Walmart and other retail locations.
RTTNews | 49 dakika önce
Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian shares may open slightly higher on Monday amid optimism about some positive progress in U.S.-China trade talks. Energy stocks are likely to find some support on higher crude oil prices.. The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies.
RTTNews | 2s 41 dakika önce
FTSE 100 Down Marginally At Noon

FTSE 100 Down Marginally At Noon

The U.K. market is down marginally at noon on Monday with investors mostly making cautious moves amid a lack of triggers. The focus is on trade talks between the U.S. and Chinese officials in London. Weak Chinese exports data weighs on sentiment.
RTTNews | 3s 52 dakika önce
CAC 40 Down Slightly In Lackluster Trade

CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in lackluster trade on Monday with investors refraining from making significant moves as they await the high-level trade talks between U.S. and Chinese officials in London later in the day.
RTTNews | 4s 14 dakika önce
DAX Down Over 0.5% In Cautious Trade

DAX Down Over 0.5% In Cautious Trade

German stocks are down in negative territory on Monday as investors make cautious moves while awaiting crucial talks between U.S. and Chinese officials in London later in the day. The discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.
RTTNews | 4s 34 dakika önce
Church & Dwight Recalls All Lots Of Zicam Nasal, Orajel Teething Swabs

Church & Dwight Recalls All Lots Of Zicam Nasal, Orajel Teething Swabs

Church & Dwight Co., Inc. has called back all lots of Zicam nasal swabs and Orajel baby teething swabs citing potential microbial contamination, according to the U.S. Food and Drug Administration. Cold remedy nasal swabs are a zinc-free, homeopathic cold remedy swab designed to shorten the duration of the common cold
RTTNews | 5s 12 dakika önce