Energy, Materials Shares Lifting Canadian Market; TSX Up Over 1% At Noon

RTTNews | 975 gün önce

(RTTNews) - Despite concerns about geopolitical tensions and economic slowdown, the Canadian market remains firmly up in positive territory a little past noon on Tuesday, led by strong gains in energy and materials sections.

The benchmark S&P/TSX Composite Index is up 207.50 points or 1.04% at 20,184.63 a few minutes past noon.

The Materials Capped Index is up 2.8%. Eldorado Gold (ELD.TO) is soaring nearly 10%. Wesdome Gold Mines (WDO.TO), K92 Mining Inc (KNT.TO), Torex Gold Resources (TXG.TO) and Capstone Mining Corp (CS.TO) are gaining 6 to 8%, while Fortuna Silver Mines (FVI.TO) and Sandsome Gold (SSL.TO) are up 5.3% and 5.2%, respectively.

Lundin Gold (LUG.TO) is up more than 16%. Teck Resources (TECK.B.TO), Franco-Nevada Corporation (FNV.TO) and Agnico Eagle Mines (AEM.TO) are also up sharply.

The Energy Capped Index is up 2.21%. Advantage Oil & Gas (AAV.TO), Precision Drilling Corp (PD.TO), Birchcliff Energy (BIR.TO), MEG Energy (MEG.TO), Athabasca Oil Corp (ATH.TO), Prairiesky Royalty (PSK.TO), Tourmaline Oil Corp (TOU.TO) and Enerplus Corp (ERF.TO) are up 3 to 4%.

George Weston (WN.TO) is rising more than 2.5%. The company reported adjusted net earnings of $453 million for the third quarter, an increase of $88 million , or 24.1% over the year-ago quarter.

Premium Brands Holdings Corporation (PBH.TO) is gaining 2.5%. Goeasy (GSY.TO), Royal Bank of Canada (RY.TO) and WSP Global (WSP.TO) are also notably higher.

In economic news, preliminary estimates showed retail sales in Canada likely jumped by 1.5% month-over-month in October of 2022. Retail sales increased 6.9% in September of 2022 over the same month in the previous year.

Wholesale sales in Canada rose 1.3% from a month earlier in October 2022, following a meager 0.1% advance in September and easily beating market expectations of a 0.4% growth, a preliminary estimate showed.

Meanwhile, new home prices for Canada were down by 0.2% from a month earlier in October of 2022, following a 0.1% decline in September. New home prices increased by 5.1% from a year earlier in October 2022, easing from a 6.3% gain in September. It was the softest reading since December 2020.

Swiss Market Ends Modestly Lower

The Switzerland market stayed a bit positive in early trades on Thursday, but retreated around mid morning and then spent the rest of the day's session in negative territory, as investors stayed largely cautious, reacting to earnings and awaiting news from the trade front.

RTTNews | 3s 0 dakika önce

European Stocks Close Broadly Higher

European stocks closed broadly higher on Thursday despite paring most of their early gains, after the European Central Bank left its interest rate unchanged for the first time in a year. The ECB held its key interest rates steady, in line with expectations.

RTTNews | 3s 20 dakika önce

U.S. New Home Sales Rebound Much Less Than Expected In June

After reporting a steep drop by new home sales in the U.S. in the previous month, the Commerce Department released a report on Thursday showing a modest rebound by new home sales in the month of June. The Commerce Department said new home sales rose by 0.6 percent to an annual rate of 627,000 in June after plummeting by 11.6 percent to a rate of 623,000 in May.

RTTNews | 5s 13 dakika önce

U.S. Initial Jobless Claims Unexpectedly Dip To 217,000

The Labor Department released a report on Thursday unexpectedly showing another modest decrease by first-time claims for U.S. unemployment benefits in the week ended July 19th. The report said initial jobless claims edged down to 217,000, a decrease of 4,000 from the previous week's unrevised level of 221,000. Economists had expected jobless claims to rise to 227,000.

RTTNews | 5s 55 dakika önce

ECB Leaves Rates Unchanged As Expected

The European Central Bank held its key interest rates steady on Thursday, in line with expectations, as policymakers assessed that price pressures continue to ease, but acknowledged that the economic environment remains highly uncertain mainly due to the trade tariff wars.

RTTNews | 6s 39 dakika önce

UK Private Sector Growth Moderates On Services Activity

UK private sector output continued to grow in July but the pace of expansion moderated as services activity lost momentum, flash survey results from S&P Global revealed on Thursday. The composite output index slid to 51.0 in July from 52.0 in June. The reading was also above the forecast of 51.9.

RTTNews | 7s 19 dakika önce

Bay Street Likely To Open On Mixed Note; Trade Talks, Earnings In Focus

Canadian shares are likely to open on a mixed note Thursday morning with investors focusing on trade talks between Canadian and U.S. officials, and reacting to the latest batch of economic data. The focus will also be on U.S. President Donald Trump's visit to the Federal Reserve today. Ahead of next week's policy meeting of the Fed, the visit looks significant.

RTTNews | 7s 50 dakika önce

Eurozone Private Sector Growth At 11-Month High

The euro area private sector grew at the fastest pace in almost a year in July as the recession in the manufacturing sector is coming to an end, flash survey results from S&P Global revealed Thursday. The HCOB composite output index posted 51.0 in July, up from 50.6 in the previous month. A score above 50.0 signals expansion.

RTTNews | 7s 54 dakika önce

EURUSD	1.1755	GBPUSD	1.35072	AUDUSD	0.65886
USDJPY	146.948	USDCAD	1.36525	USDCHF	0.79495

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Energy, Materials Shares Lifting Canadian Market; TSX Up Over 1% At Noon