Canadian Market Moderately Lower Around Noon; Energy, Materials Shares Fall

RTTNews | 657 ngày trước

(RTTNews) - The Canadian market is down in negative territory around noon on Tuesday, weighed down by losses in energy and materials sectors amid falling commodity prices.

Technology stocks are up in positive territory, limiting market's downside a bit. Consumer discretionary, financials and industrials shares are turning in a mixed performance.

In addition to closely following the developments on the geopolitical front and tracking earnings updates,investors are also looking ahead to speeches by some central bank officials, including Fed Chair Jerome Powell.

The benchmark S&P/TSX Composite Index is down 124.39 points or 0.63% at 19,619.55 19,613.53 a few minutes before noon.

The Energy Capped Index is down nearly 3%. Crescent Point Energy (CPG.TO) is plunging more than 8%. Vermilion Energy (VET.TO), Baytex Energy (BTE.TO), International Petroleum Corp (IPCO.TO), Tamarack Valley Energy (TVE.TO), Cenovus Energy (CVE.TO), Paramount Resources (POU.TO) and Enerplus Corp (ERF.TO) are down 3.4 to 5.6%.

Suncor Energy (SU.TO), MEG Energy (MEG.TO), Whitecap Resources (WCP.TO), Canadian Natural Resources (CNQ.TO) and ARC Resources (ARX.TO) are also among the major losers in the energy sector.

Among materials shares, Ero Copper (ERO.TO) is down more than 9%. Endeavour Silver Corp (EDR.TO) is down 5%. Hudbay Minerals (HBM.TO), Iamgold (IMG.TO), Barrick Gold Corp (ABX.TO), Wheaton Precious Metals (WPM.TO), Ssr Mining (SSRM.TO), Agnico Eagle Mines (AEM.TO) and Kinross Gold (K.TO) are down 3 to 4.5%.

Technology stocks Lightspeed Commerce (LSPD.TO) and BlackBerry (BB.TO) are gaining 5.4% and 4%, respectively. Quarterhill Inc. (QTRH.TO) is up 3.5%, Shopify Inc (SHOP.TO) is rising 2.5% and Open Text Corp (OTEX.TO) is up 2.3%. Kinaxis Inc (KXS.TO), Docebo Inc (DCBO.TO), Descartes Systems (DSG.TO), Kinaxis Inc (KXS.TO) and Constellation Software (CSU.TO) are up 1 to 2%.

Stella-Jones Inc (SJ.TO) is gaining more than 6% after the company reported third-quarter net income of $110 million, or $1.91 per shares, up 79% from Earnings Per Share in the third quarter of the previous financial year.

TransAlta Corporation (TA.TO) is up 3.5%. The company reported third-quarter net earnings of $372 million, up $311 million from the year-ago quarter.

Cargojet Inc. (CJT.TO) said it posted net earnings of $10.5 million for the quarter quarter ended September 30, 2023, compared to net earnings of $83.4 million in 2022. The stock is down by about 1.7%.

Bitfarms Limited (BITF.TO) is declining more than 5%. The company reported a net loss of US$ 18.7 million for the third-quarter, compared with net loss of US$ 84.8 million in the year-ago quarter.

On the economic front, Canada posted a trade surplus of C$ 2 billion in September, up from C$ 0.95 billion in the previous month. Exports rose by 2.7% to C$ 67 billion, while imports rose by about 1% to C$ 65 billion, data from Statistics Canada showed.

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 49 phút trước

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 1h 17phút trước

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 19phút trước

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 35phút trước

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 1h 37phút trước

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 1h 50phút trước

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 2h 19phút trước

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 49phút trước

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