TSX Up 0.7% As Technology, Energy Stocks Rise Sharply

RTTNews | 774 gün önce

(RTTNews) - The Canadian market remains firmly entrenched in positive territory Friday afternoon with stocks from several sectors holding their gains thanks to sustained buying interest.

Technology, healthcare, energy, materials and industrials shares are among the prominent gainers.

Encouraging Canadian GDP data, and rising expectations the Federal Reserve will end its tightening cycle soon, contribute to the positive mood in the market.

The benchmark S&P/TSX Composite Index is up 142.70 points or 0.7% at 20,528.17.

Data from Statistics Canada showed the Canadian economy grew 0.3% in May. Meanwhile, preliminary estimates show the economy may have contracted by 0.2% in June.

Celestica Inc (CLS.TO) is soaring 15.2%. The company reported adjusted net earnings per share of $0.55 for the second quarter, compared to $0.44 in the year-ago quarte. The company has also raised its earnings guidance for the year.

Imperial Oil Limited (IMO.TO) shares are up 4.7%. The company reported second-quarter net income of $675 million or $1.15 per share on a diluted basis, compared to $2,409 million or $3.63 per share in the second quarter of 2022. The company cited lower commodity prices and increased planned planned turnaround activity as the reason for the lower net earnings.

Toromont Industries (TIH.TO) is gaining 6%. Methanex Corporation (MX.TO), Precision Drilling Corp (PD.TO), Teck Resources (TECK.A.TO) and Shopify Inc (SHOP.TO) are up 3 to 4%.

Molson Coors Canada (TPX.B.TO), Canadian National Railway (CNR.TO), TFI International (TFII.TO), Constellation Software (CSU.TO), Thomson Reuters (TRI.TO), WSP Global (WSP.TO) and Fairfax Financial Holdings (FFH.TO) are up 1 to 2.6%.

Canadian Pacific Kansas City (CP.TO) reported second-quarter net income of $1,325 million, compared to $765 million in the year-ago quarter. The stock is gaining about 0.5%.

TC Energy Corp (TRP.TO) is down 5.6% after the company reported second-quarter net income of $0.3 billion or $0.24 per common share compared to $0.9 billion or $0.90 per common share in second quarter 2022.

Indian Shares Likely To Open Higher

Indian shares look headed for a positive start on Wednesday, tracking global cues. Activity is likely to turn stock specific with investors reacting to corporate news. Automobile stocks may find support with several companies deciding to pass on the benefit of recent GST reduction to customers.

RTTNews | 20 dakika önce

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid growing optimism about the outlook for interest rates after sharp downward revisions in US jobs data and ahead of the release of the closely watched US inflation data later in the week. Currencies in the region also strengthened against the US dollar.

RTTNews | 30 dakika önce

Higher Open Called For Thai Stock Market

The Thai stock market has moved higher in three straight sessions, adding almost 25 points or 2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,275-point plateau and it's tipped to open in the green again on Wednesday.

RTTNews | 1s 41 dakika önce

Indonesia Bourse May End Losing Streak On Wednesday

The Indonesia stock market has moved lower in three straight sessions, sinking almost 260 points or 3.6 percent in that span. The Jakarta Composite Index now rests just beneath the 7,630-point plateau although it's due for support on Wednesday.

RTTNews | 2s 11 dakika önce

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Wednesday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 43,650 level, with gains in technology stocks partially offset by weakness in automakers, exporters and financial stocks.

RTTNews | 2s 14 dakika önce

Hang Seng May Extend Winning Streak

The Hong Kong stock market has moved higher in three straight sessions, climbing more than 975 points or 3.9 percent along the way. The Hang Seng Index now sits just beneath the 25,940-point plateau and it may see additional strength on Wednesday.

RTTNews | 2s 26 dakika önce

Australian Market Slightly Higher

Australian shares are trading slightly higher on Wednesday after opening in the red, reversing some of the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying just above the 8,800 level, following the broadly positive cues from Wall Street overnight, with gains in financial and technology stocks partially offset by weakness in mining and energy stocks.

RTTNews | 2s 40 dakika önce

China Shares May Bounce Higher Again On Wednesday

The China stock market on Tuesday ended the two-day winning streak in which it had jumped more than 60 points or 1.6 percent. The Shanghai Composite Index now sits just above the 3,800-point plateau although it may find renewed support on Wednesday.

RTTNews | 2s 41 dakika önce

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