TSX Up Firmly In Positive Territory, Looks Set To End On A Buoyant Note

RTTNews | 970天前

(RTTNews) - The Canadian market is up firmly in positive territory Friday afternoon, led by gains in energy, materials, consumer and utilities sections.

Data showing a weaker than expected reading on service sector activity helped raise hopes that the Fed will continue to slow their aggressive pace on interest rate hikes.

Meanwhile, data from Statistics Canada showed the Canadian economy created 104,000 jobs in December of 2022, beating market expectations of an addition of 8,000 jobs.

The unemployment rate in Canada was at 5% in December of 2022, the lowest since the record-low of 4.9% in June and July, decreasing from 5.1% in the prior month and beating market estimates of 5.2%.

The benchmark S&P/TSX Composite Index is up 2800.11 points or 1.44% at 19,786.95

The Energy Capped Index is rising 2.7%. Paramount Resources (POU.TO) is surging nearly 7% and Pason Systems (PSI.TO) is gaining 4.5%. Canadian Natural Resources (CNQ.TO), Tourmaline Oil Corp (TOU.TO), Nuvista Energy (NVA.TO), Arc Resources (ARX.TO), Parex Resources (PXT.TO), Imperial Oil (IMO.TO) and Whitecap Resources (WCP.TO) are up 2.5 to 3.4%.

In the materials section, Hudbay Minerals (HBM.TO) is gaining about 8%. Capstone Mining Corp (CS.TO), Ivanhoe Mines (IVN.TO), First Quantum Minerals (FM.TO), Methanex Corp (MX.TO), Lundin Mining (LUN.TO), Filo Mining Corp (FIL.TO), Stelco Holdings (STLC.TO) and Teck Resources (TECK.B.TO) are up 4 to 6%.

Consumer discretionary stocks Aritzia Inc (ATZ.TO), Magna International (MG.TO), Park Lawn Corp (PLC.TO), Dollarama (DOL.TO) and Linamar Corp (LNR.TO) are up 2 to 3.5%.

In the consumer staples section, Alimentation Couche-Tard (ATD.TO), Empire Company (EMP.A.TO), Saputo (SAP.TO), Loblaw (L.TO), Primo Water Corp (PRMW.TO), Weston George (WN.TO) and Maple Leaf Foods (MFI.TO) are gaining 1 to 2%.

Emera Incorporated (EMA.TO), up 2%, is the top gainer in the Utilities Index. Transalta Corp (TA.TO), Northland Power (NPI.TO), Altagas (ALA.TO), Brookfield Infra Partners (BIP.UN.TO) and Algonquin Power and Utilities Corp (AQN.TO) are among the other major gainers in the section.

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Wednesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling below the 42,250 level, with weakness in index heavyweights, financial and technology stocks partially offset by gains in exporter stocks.

RTTNews | 14分钟前

Lower Open Called For Hong Kong Stock Market

The Hong Kong stock market on Wednesday ended the two-day winning streak in which it had picked up almost 620 points or 2.4 percent. The Hang Seng Index now sits just shy of the 25,500-point plateau and it's expected to open in the red again on Wednesday.

RTTNews | 35分钟前

Australian Market Notably Lower

Australian shares are trading notably lower on Wednesday, adding to the losses in the previous three sessions, with the benchmark S&P/ASX 200 falling well below the 8,900 level, following the broadly negative cues from Wall Street overnight, with weakness in financial and technology stocks partially offset by gains in mining stocks.

RTTNews | 36分钟前

China Shares May Take Further Damage On Wednesday

The China stock market on Tuesday wrote a finish to the three-day winning streak in which it had improved more than 75 points or 2 percent. The Shanghai Composite Index now sits just shy of the 3,860-point plateau and the losses may accelerate on Wednesday.

RTTNews | 50分钟前