TSX Down More Than 4% As Trade Tensions Resurface

RTTNews | 253天前

(RTTNews) - The Canadian market is deep down in negative territory on Thursday, with investors taking some profits following the previous afternoon's sharp rally after U.S. President Donald Trump announced a 90-day pause on new "reciprocal tariffs."

Also, trade tensions between the U.S. and China weigh on sentiment. Trump, who announced the 90-day pause for most countries, not only excluded China from the reprieve, but also raised the tariff on Chinese goods to 125%.

Energy, technology, healthcare, financials, real estate, industrials and consumer discretionary stocks are down sharply.

The benchmark S&P/TSX Composite Index was down 983.27 points or 4.14% at 22,743.76 nearly half an hour past noon. The index, which opened with a negative gap of about 130 points at 23,596.86 this morning, spiked 1,220.13 points or 5.4% to 23,727.03 on Wednesday.

The Energy Capped Index is down as much as 6.8%. The Information Technology Capped Index is down by about 6.3%, and the Healthcare Index is down 5.5%.

With several key stocks in the financials space declining sharply, the index tracking the movements of shares from the sector is down 3.8% now.

Vermilion Energy is down more than 14%. Cenovus Energy, MEG Energy Corp, Parex Resources, Freehold Royalties, Precision Drilling Corp, Canadian Natural Resources, Whitecap Resources, International Petroleum Corp and Suncor Energy are down 6 to 11%.

Technology stocks Shopify Inc, Dye & Durham and Celestica Inc. are down 10.2%, 8.4% and 7%, respectively. Constellation Software, BlackBerry, Kinaxis, CGI Group Inc, Lightspeed Commerce and Docebo are among the other big losers.

Manulife Financial, Onex Corp, Bank of Montreal, Sun Life Financial, Bank of Nova Scotia, Laurentian Bank, National Bank of Canada, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank are among the notable losers in the financials sector. These stocks are down 2.5 to 8% from previous closing levels.

In economic news, data from Statistics Canada showed the total value of building permits in Canada rose 2.9% from the previous month to $13.1 billion in February, following a downwardly revised 4.3% drop in the previous month.

TSX Climbs To New Record High As Technology, Materials Stocks Rise

After opening on a firm note, Canadian stocks gained further ground in positive territory Friday morning with several counters in materials, technology and healthcare sectors attracting strong buying interest.

RTTNews | 1小时43分钟前

U.S. Consumer Sentiment Rebounds Less Than Previously Estimated In December

Consumer sentiment in the U.S. rebounded by less than previously estimates in the month of December, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for December was downwardly revised to 52.9 from a preliminary reading of 53.3. Economists had expected the index to be upwardly revised to 53.4.

RTTNews | 3小时6分钟前

U.S. Existing Home Sales Rise Less Than Expected In November

Existing home sales in the U.S. saw a modest increase in the month of November, the National Association of Realtors revealed in a report released on Friday. NAR said existing home sales rose by 0.5 percent to an annual rate of 4.13 million in November after jumping by 1.5 percent to an upwardly revised rate of 4.10 million in October.

RTTNews | 3小时17分钟前

Russia Cuts Key Rate By 50 Bps As Expected

Russia's central bank cut its interest rate by 50 basis points on Friday but reiterated that it will maintain policy tight to bring inflation back to the target. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate to 16.00 percent from 16.50 percent. The decision matched market expectations. The bank has lowered the interest rate by 400 basis points since Jun

RTTNews | 5小时5分钟前

Bay Street May Open Slightly Higher

The Canadian market, which snapped a four-day losing streak on Thursday, looks headed for a positive start Friday morning. Canadian retail sales data, and U.S. PCE reading are likely to make an impact.

RTTNews | 5小时45分钟前

FTSE 100 Flat In Cautious Trade

UK's FTSE 100 was flat a little past noon on Friday with investors largely refraining from making big moves. A report showing an improvement in consumer sentiment supported the market, while data showing an unexpected drop in retail sales appeared to render the mood cautious.

RTTNews | 6小时25分钟前

CAC 40 Roughly Flat In Lackluster Trading

France's CAC 40 was roughly flat a little past noon on Friday in somewhat lackluster trading as investors, digesting the recent policy announcements from the Bank of England and the European Central Bank, awaited the crucial PCE readings from the U.S., after yesterday's data showed an unexpected drop in consumer prices in the month of November in the world's largest economy.

RTTNews | 6小时57分钟前

Bank Of Japan Lifts Policy Rate; Hints At More Hikes

The Bank of Japan raised its benchmark rate by a quarter-point to the highest level in three decades as inflation continued to remain above the target and hinted at further hikes. The policy board, headed by Ueda Kazuo decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."

RTTNews | 7小时15分钟前

EURUSD	1.17207	GBPUSD	1.33804	AUDUSD	0.66159
USDJPY	157.465	USDCAD	1.37777	USDCHF	0.79497