Bay Street Seen Opening With Positive Bias On Firm Commodity Prices

RTTNews | 1008天前

(RTTNews) - Canadian shares are likely to open with a positive bias on Tuesday, tracking firm crude oil and bullion prices.

Concerns about global economic recession may weigh on sentiment and limit market's upside. The Bank of Japan's surprise policy shift that allows long-term interest rates to rise more is likely to weigh as well.

In company news, Lithium Americas Corp. (LAC.TO) announced a definitive arrangement with Arena Minerals Inc. (TSX.V.TO) to acquire Arena by way of a plan of arrangement in a deal worth $227 million.

Arena's shareholders will receive 0.0226 of a Lithium Americas common share for each Arena Share held, as per the arrangement.

On the economic front, final data on Canadian retail sales for the month of October is due at 8:30 AM ET. Retail sales in Canada likely jumped by 1.5% month-over-month in October of 2022, preliminary estimates showed. On a yearly basis, retail trade rose by 6.9% in September, easing from the 7% jump in the prior month.

Canadian stocks tumbled on Monday, extending recent losses, as fears of a global recession amid surging interest rates continued to weigh on sentiment.

With several central banks, including the Federal Reserve, raising interest rates and signaling further increases in the coming months, traders continued to refrain from creating fresh long positions.

The benchmark S&P/TSX Composite Index ended with a loss of 242.52 points or 1.25% at 19,200.76 after dropping to a low of 19,159.58 intraday.

Asian stocks tumbled on Tuesday and the yen surged against the dollar after the Bank of Japan said it would review its yield curve control policy and widened its target band for interest rates - a move that analysts said would allow long-term interest rates to rise more.

Hawkish comments on interest rates from former Federal Reserve official William Dudley also fueled worries about a worldwide recession.

European stocks are down marginally in early afternoon trades, recovering after a weak start. The BoJ's surprise policy shift that allows long-term interest rates to rise more rattled the markets early on in the session.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.86 or 1.14% at $76.05 a barrel.

Gold futures are gaining $13.00 or 0.72% at $1,810.70 an ounce, while Silver futures are up $0.651 or 2.81% at $23.850 an ounce.

European Shares Seen Flat To Higher At Open

European stocks are seen opening broadly higher on Tuesday, even as the upside may remain capped amid ongoing volatility in the bond markets due to political uncertainty in France and Germany's plans to ramp up debt issuance.

RTTNews | 2小时41分钟前

European Economic News Preview: Eurozone Flash PMI Data Due

Flash composite purchasing managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 3.15 am ET, France's flash composite PMI survey results are due. The composite output index is forecast to edge up to 49.9 in September from 49.8 in the previous month.

RTTNews | 2小时57分钟前

Sensex, Nifty Extend Losses In Cautious Trade

Indian shares were a tad lower on Tuesday, with tariff worries and escalating tensions in Europe and the Middle East keeping investors on edge.

RTTNews | 3小时37分钟前

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market trading on Tuesday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level, with gains across most sectors led by mining and technology shares.

RTTNews | 4小时46分钟前

Asian Markets Mixed Amid Cautious Trades

Asian markets are trading mixed on Tuesday, following the positive cues from Wall Street overnight, as traders remain optimistic about the outlook for the markets amid expectations of further interest rate cuts by the US Fed. Some traders are also looking to cash in on the recent strength in the markets. However, escalating tensions in Europe and the Middle East are weighing on market sentiment.

RTTNews | 5小时10分钟前

Sensex, Nifty Seen Lower At Open

Indian shares look set to open on a weak note on Tuesday as investors keep a close eye on ongoing trade talks with the U.S. as well as escalating tensions in Europe and the Middle East, with EU targeting Russian supplies and Ukraine intensifying its attacks on Russian energy infrastructure.

RTTNews | 5小时42分钟前

Higher Open Called For Thai Stock Market

The Thai stock market has moved lower in four straight sessions, shedding more than 25 points or 1.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,280-point plateau although it's due for support on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The SET finished modestly lower on Monday following losses from the food, finance, industrial, property, resource, service and technology sectors. For the day, the index lost 10.18 points or 0.79 percent to finish at the daily low of 1,282.54 after peaking at 1,296.42. Volume was 8.171 billion shares worth 31.595 billion baht. There were 356 decliners and 128 gainers, with 167 stocks finishing unchanged. Among the actives, Advanced Info lost 0.68 percent, while Thailand Airport crashed 0.64 percent, Asset World sank 0.83 percent, Banpu plunged 2.48 percent, Bangkok Bank collected 0.68 percent, Bangkok Expressway eased 0.97 percent, BTS Group gave up 1.24 percent, CP All Public dipped 0.52 percent, Charoen Pokphand Foods dropped 0.86 percent, Energy Absolute declined 1.64 percent, Gulf weakened 1.63 percent, Kasikornbank and PTT Global Chemical both slumped 0.91 percent, Krung Thai Bank skidded 0.99 percent, Krung Thai Card retreated 1.64 percent, PTT Oil & Retail fell 0.72 percent, PTT slid 0.75 percent, PTT Exploration and Production was down 0.87 percent, SCG Packaging tanked 2.69 percent, Siam Commercial Bank added 0.40 percent, Siam Concrete tumbled 1.77 percent, Thai Oil plummeted 2.70 percent, True Corporation contracted 0.93 percent, TTB Bank shed 0.53 percent and B. Grimm and Bangkok Dusit Medical were unchanged.

RTTNews | 6小时12分钟前

Indonesia Bourse Likely To Remain Rangebound

The Indonesia stock market has finished lower in two of three trading days since the end of the seven-day winning streak in which it had surged almost 400 points or 5 percent. The Jakarta Composite Index sits just above the 8,040-point plateau and it figures to hold steady in that neighborhood again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The JCI finished slightly lower on Monday as losses from the financial shares and telecoms were mitigated by support from the resource and cement companies. For the day, the index dipped 11.08 points or 0.14 percent to finish at 8,040.04 after trading between 8,005.35 and 8,087.93. Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri advanced 0.91 percent, Bank Danamon Indonesia collected 0.85 percent, Bank Negara Indonesia retreated 1.41 percent, Bank Central Asia and Astra Agro Lestari both dropped 0.96 percent, Bank Rakyat Indonesia tanked 2.12 percent, Indosat Ooredoo Hutchison retreated 1.59 percent, Indocement improved 0.72 percent, Semen Indonesia strengthened 1.39 percent, Indofood Sukses Makmur rose 0.32 percent, Astra International shed 0.44 percent, Energi Mega Persada surged 7.14 percent, Aneka Tambang rallied 3.77 percent, Vale Indonesia soared 3.71 percent, Timah spiked 5.00 percent, Bumi Resources skyrocketed 6.14 percent and United Tractors was unchanged.

RTTNews | 6小时42分钟前

EURUSD	1.17863	GBPUSD	1.35179	AUDUSD	0.65899
USDJPY	147.775	USDCAD	1.38442	USDCHF	0.79332