Bay Street Seen Opening On Mixed Note

RTTNews | hace 194

(RTTNews) - Canadian shares are likely to turn in a mixed performance on Wednesday with investors reacting to quarterly earnings updates. Weak crude oil prices and subdued bullion market may weigh on energy and materials shares.

In earnings news, Stella-Jones Inc (SJ.TO) reported a net income of $77 million or $1.36 per share for the first quarter of 2024, up 32% from the year-ago quarter.

Nuvei Corporation (NVEI.TO) reported adjusted net income of $62.5 million for the first quarter, down 3% from $64.5 million a year ago.

B2Gold Corp (BTO.TO) posted a net income of $48.5 million in the first quarter of 2024, compared to $102 million in the year-ago quarter.

Goeasy Ltd. (GSY.TO) reported a net income of $58.9 million for the first quarter, up 15% from $51.4 million in the same period of 2023.

Suncor Energy (SU.TO) reported adjusted operating earnings of $1,817 million for the first quarter of 2024, compared to $1,809 million a year ago.

The Canadian market ended higher on Tuesday, extending gains to a fourth straight day, but gains in the session were just marginal as investors largely refrained from making significant moves.

The benchmark S&P/TSX Composite Index ended with a gain of 31.15 points or 0.14% at 22,290.62, after moving between 22,261.01 and 22,347.39.

Asian stocks ended Wednesday's session on a muted note as the Chinese stock rally paused and the Israel-Hamas ceasefire deal faced uncertainty.

The dollar regained momentum after Minneapolis Fed President Neel Kashkari cautioned that interest rates are likely to remain on hold for an extended period.

Chinese markets fell on profit taking after rallying to over six-month highs on optimism over improving economic conditions and hopes regarding potential stimulus measures to revive the country's struggling property market.

European stocks are up in positive territory with investors, shrugging off hawkish comments from Federal Reserve Bank of Minneaplis President Neel Kashkari, and continuing to assess the prospects for interest-rate cuts following last week's weaker-than-expected U.S. jobs report.

In commodities, West Texas Intermediate Crude oil futures are down $1.06 or 1.35% at $77.32 a barrel.

Gold futures are up slightly at $2,324.90 an ounce, while Silver futures are up $0.016 or 0.04% at $27.560 an ounce.

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, reversing the losses in the previous session, with the Nikkei 225 moving above the 38,400 level, following the mixed cues from Wall Street overnight, with gains across most sectors led by automakers, exporters and financial stocks.

RTTNews | hace 5h 4min

Higher Open Anticipated For Thai Stock Market

The Thai stock market on Monday ended the two-day losing streak in which it had slumped almost 10 points or 0.8 percent. The Stock Exchange of Thailand now sits just above the 1,450-point plateau and it's got a positive lead again for Tuesday's trade. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.

RTTNews | hace 5h 35min

Indonesia Stock Market Due For Support On Tuesday

The Indonesia stock market has finished lower in four straight sessions, shedding almost 190 points or 2.5 percent along the way. The Jakarta Composite Index now rests just beneath the 7,135-point plateau although it may stop the bleeding on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies. For the day, the index shed 26.98 points or 0.38 percent to finish at 7,134.28 after trading between 7,118.87 and 7,174.75. Among the actives, Bank CIMB Niaga sank 0.84 percent, while Bank Mandiri fell 0.39 percent, Bank Danamon Indonesia shed 0.40 percent, Bank Negara Indonesia declined 0.81 percent, Bank Central Asia tumbled 1.72 percent, Bank Rakyat Indonesia tanked 2.68 percent, Indosat Ooredoo Hutchison dropped 0.88 percent, Indocement lost 0.72 percent, Semen Indonesia rose 0.28 percent, United Tractors surrendered 2.64 percent, Astra International dipped 0.20 percent, Energi Mega Persada rallied 3.15 percent, Astra Agro Lestari stumbled 2.70 percent, Aneka Tambang slid 0.36 percent, Jasa Marga slumped 0.44 percent, Vale Indonesia plunged 3.40 percent, Timah retreated 0.76 percent, Bumi Resources surged 2.68 percent and Bank Maybank Indonesia and Indofood Sukses Makmur were unchanged.

RTTNews | hace 6h 5min

Australian Market Significantly Higher

Adding to the gains in the previous three sessions, the Australian stock market is trading significantly higher on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by energy and mining stocks amid upbeat commodity prices.

RTTNews | hace 6h 19min

Hong Kong Stock Market May Extend Monday's Gains

The Hong Kong stock market on Monday snapped the six-day losing streak in which it had plummeted more than 1,610 points or 7.6 percent. The Hang Seng Index now sits just above the 19,575-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The Hang Seng finished modestly higher on Monday following gains from the financial shares and entertainment stocks, while the property and technology companies were mixed. For the day, the index advanced 150.27 points or 0.77 percent to finish at 19,576.61 after trading between 19,470.43 and 19,781.08. Among the actives, Alibaba Group slumped 1.03 percent, while Alibaba Health Info slid 0.26 percent, ANTA Sports fell 0.31 percent, China Life Insurance collected 1.30 percent, China Mengniu Dairy dropped 0.83 percent, China Resources Land advanced 1.06 percent, CITIC rallied 1.37 percent, CNOOC climbed 1.31 percent, CSPC Pharmaceutical and Techtronic Industries both dipped 0.19 percent, Galaxy Entertainment added 0.31 percent, Haier Smart Home plummeted 3.04 percent, Hang Lung Properties sank 0.47 percent, Henderson Land retreated 1.20 percent, Hong Kong & China Gas skidded 1.00 percent, Industrial and Commercial Bank of China soared 3.04 percent, JD.com surged 3.62 percent, Lenovo plunged 2.07 percent, Li Auto improved 0.74 percent, Li Ning shed 0.37 percent, Meituan lost 0.35 percent, New World Development tumbled 1.52 percent, Nongfu Spring jumped 1.94 percent, Xiaomi Corporation spiked 2.86 percent and WuXi Biologics declined 1.07 percent.

RTTNews | hace 6h 20min

China Bourse May Halt Losing Streak On Tuesday

The China stock market has finished lower in three straight sessions, slumping almost 120 points or 3.7 percent along the way. The Shanghai Composite now sits just beneath the 3,325-point plateau although it's due for support on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The SCI finished slightly lower on Monday as losses from the resource stocks were mitigated by support from the financial shares and properties. For the day, the index slipped 6.88 points or 0.,21 percent to finish at 3,323.85 after trading between 3,309.01 and 3,386.90. The Shenzhen Composite Index stumbled 43.83 points or 2.18 percent to end at 1,966.78. Among the actives, Industrial and Commercial Bank of China accelerated 2.31 percent, while Bank of China spiked 2.88 percent, China Construction Bank climbed 1.01 percent, China Merchants Bank rose 0.21 percent, Agricultural Bank of China collected 2.13 percent, China Life Insurance was up 0.09 percent, Jiangxi Copper fell 0.23 percent, Aluminum Corp of China (Chalco) tumbled 2.26 percent, Yankuang Energy improved 0.58 percent, PetroChina and China Vanke both strengthened 1.49 percent, China Petroleum and Chemical (Sinopec) gained 0.63 percent, Huaneng Power rallied 1.40 percent, China Shenhua Energy soared 3.21 percent, Gemdale jumped 1.90 percent and Poly Developments added 0.69 percent.

RTTNews | hace 6h 35min

Taiwan Shares May Bounce Higher Again On Tuesday

The Taiwan stock market turned lower again on Monday, one session after ending the four-day losing streak in which it had tumbled almost 850 points or 3.6 percent. The Taiwan Stock Exchange now rests just beneath the 22,550-point plateau and it may see additional support on Tuesday.

RTTNews | hace 7h 5min

Rebound Anticipated For Singapore Stock Market

The Singapore stock market on Monday ended the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just above the 3,730-point plateau although it's likely to bounce higher again on Tuesday. The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside. The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index lost 12.15 points or 0.32 percent to finish at 3,732.55 after trading between 3,727.94 and 3,754.82. Among the actives, CapitaLand Integrated Commercial Trust skidded 1.01 percent, while CapitaLand Investment advanced 0.72 percent, City Developments added 0.39 percent, DBS Group retreated 1.26 percent, DFI Retail surged 3.42 percent, Hongkong Land tanked 2.14 percent, Keppel DC REIT sank 0.45 percent, Keppel Ltd rose 0.30 percent, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust rallied 0.81 percent, SATS plunged 2.60 percent, Seatrium Limited declined 1.08 percent, SembCorp Industries tumbled 1.37 percent, Singapore Technologies Engineering plummeted 5.52 percent, SingTel dropped 0.63 percent, Thai Beverage jumped 0.97 percent, Wilmar International spiked 1.31 percent, Yangzijiang Shipbuilding slumped 0.79 percent and Emperador, Genting Singapore, Yangzijiang Financial, Frasers Logistics & Commercial Trust, Oversea-Chinese Banking Corporation, Frasers Centrepoint Trust, Mapletree Logistics Trust and Comfort DelGro were unchanged.

RTTNews | hace 7h 35min

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