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Bay Street Seen Opening Lower On Geopolitical Concerns; Canadian Inflation Data In Focus

RTTNews | Před 9 h 29 min

Bay Street Seen Opening Lower On Geopolitical Concerns; Canadian Inflation Data In Focus

(RTTNews) - Canadian shares look headed for a weak start on Tuesday amid rising geopolitical concerns after Russian President Vladimir Putin updated nuclear doctrine.

Kremlin has warned that it would consider a nuclear strike if it was subject to a conventional missile assault supported by a nuclear power.

Higher bullion prices could trigger some buying in the metals section and limit market's downside a bit.

Data on Canadian inflation for the month of October is due at 8:30 AM ET.

The annual inflation rate in Canada fell to 1.6% in September, from 2% in the previous month. The September reading was the lowest since February 2021. Month on month, inflation dropped 0.4% in September.

The annual core inflation rate in Canada increased to 1.6% in September from 1.5% in the prior month. On a monthly basis, core consumer prices were flat in September, after falling by 0.1% in August.

George Weston Ltd. (WN.TO) reported adjusted diluted net earnings of $3.57 per common share in the third quarter, up $0.21 or about 6.3%, compared to a year ago.

The Canadian market closed on a firm note on Monday, lifted by gains in energy and materials stocks as commodity prices climbed higher amid an escalation in the Russia - Ukraine war.

The benchmark S&P/TSX Composite Index, which climbed to 25,082.87, ended with gain of 86.26 points or 0.35% at 24,976.94.

Asian markets close on a positive note on Tuesday amidst growing hopes of more stimulus measures and expectations from the rate review by the People's Bank of China due on Wednesday.

European stocks are notably lower amid an escalation in Russia - Ukraine war, and on uncertainty about U.S. interest rates and concerns over the impact of Donald Trump's second term as U.S. President.

In commodities, West Texas Intermediate Crude oil futures are down $0.34 or 0.48% at $68.82 a barrel.

Gold futures are gaining $25.10 or 0.96% at $2,639.70 an ounce, while Silver futures are up $0.201 or 0.64% at $31.425 an ounce.

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Canadian Market Recovers Well After Early Setback

Canadian Market Recovers Well After Early Setback

The Canadian market, which slid in early trades Tuesday morning on hot inflation data, and rising geopolitical concerns following an escalation in Russia - Ukraine war, recovered lost ground subsequently with a few frontline stocks finding some solid support at lower levels.

RTTNews | Před 5 h 11 min

U.S. Housing Starts Tumble 3.1% In October, More Than Expected

U.S. Housing Starts Tumble 3.1% In October, More Than Expected

New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said housing starts dove by 3.1 percent to an annual rate of 1.311 million in October after slumping by 1.9 percent to a revised rate of 1.353 million in September.

RTTNews | Před 7 h 47 min

U.S. Housing Starts Tumble More Than Expected In October

U.S. Housing Starts Tumble More Than Expected In October

New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday.

RTTNews | Před 8 h 45 min

Eurozone Inflation Rises To 2% As Estimated

Eurozone Inflation Rises To 2% As Estimated

Eurozone inflation returned to the 2 percent target in October, final data from Eurostat showed on Tuesday. The harmonized index of consumer prices climbed as initially estimated in October after rising 1.7 percent in September. Core inflation that excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October.

RTTNews | Před 9 h 5 min

Euro Slides Against Majors

Euro Slides Against Majors

The euro weakened against other major currencies in the European session on Tuesday, as traders are worried that protectionist policies by President-elected Donald Trump could disrupt the Eurozone's growth potential.

RTTNews | Před 9 h 35 min

FTSE 100 Slips As Geopolitics Weighs

FTSE 100 Slips As Geopolitics Weighs

The FTSE 100 benchmark of the London Stock Exchange aligned with the trend in European markets to trade in the red amidst a massive spike in geopolitical concerns. However, the index managed to outperform its European peers.

RTTNews | Před 9 h 39 min

European Stocks Tumble As Russia-Ukraine War Hurts Sentiment

European Stocks Tumble As Russia-Ukraine War Hurts Sentiment

European stocks are reeling under a bout of selling pressure on Tuesday following an escalation in the Russia - Ukraine war, and amid uncertainty about U.S. interest-rate trajectory and the outlook for global economic growth.

RTTNews | Před 9 h 48 min

Ukraine Conflict Drags Down CAC 40

Ukraine Conflict Drags Down CAC 40

Market sentiment remains heavily impacted by the heightened tensions between Ukraine and Russia over the past few days.

RTTNews | Před 10 h 30 min

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