Bay Street Seen Opening On Mixed Note

RTTNews | 194 days ago

(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.

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 | 5h 22min ago

Malaysia Stock Market Poised To Open To The Upside On Tuesday

The Malaysia stock market on Monday snapped the two-day slide in which it had slumped almost 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's tipped to open in the green 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 KLCI finished modestly higher on Monday following gains from the telecoms and plantations, while the financial and industrial sectors were mixed. For the day, the index improved 11.60 points or 0.73 percent to finish at 1,604.04 after trading between 1,591.49 and 1,605.41. Among the actives, Axiata rallied 1.34 percent, while Celcomdigi strengthened 1.20 percent, CIMB Group was up 0.24 percent, Genting gained 0.53 percent, Genting Malaysia jumped 1.42 percent, IHH Healthcare eased 0.14 percent, IOI Corporation accelerated 1.53 percent, Kuala Lumpur Kepong gathered 0.46 percent, Maxis surged 3.78 percent, Maybank dipped 0.19 percent, MISC sank 0.66 percent, MRDIY added 0.55 percent, Nestle Malaysia slid 0.20 percent, Petronas Chemicals fell 0.22 percent, PPB Group dropped 0.70 percent, Press Metal skyrocketed 6.59 percent, Public Bank collected 0.67 percent, QL Resources improved 0.84 percent, RHB Bank rose 0.47 percent, Sime Darby perked 0.45 percent, SD Guthrie soared 2.29 percent, Sunway spiked 1.72 percent, Telekom Malaysia increased 0.48 percent, Tenaga Nasional climbed 1.13 percent, YTL Corporation shed 0.51 percent and YTL Power was unchanged. The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.

RTTNews | 5h 52min ago

South Korea Shares May Add To Their Winnings On Tuesday

The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had plunged almost 250 points or 5.8 percent. The KOSPI now sits just beneath the 2,470-point plateau and it may tick higher again on Tuesday.

RTTNews | 6h 22min ago

Energy, Mining Stocks Lift TSX

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.

RTTNews | 6h 26min ago

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its November 5 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.

RTTNews | 6h 52min ago

Dollar Slips Against Major Counterparts

The U.S. dollar drifted lower on Monday as bond yields fell, and the Euro gained in strength after European Central Bank Governing Council member Nagel said central banks may have to raise rates in the event of inflationary pressures rise.

RTTNews | 7h 13min ago

Canadian Market Modestly Higher, Looks Headed For Positive Close

The Canadian market is up in positive territory Monday afternoon with energy and materials shares recording strong gains thanks to higher commodity prices. The mood remains a bit cautious amid concerns about geopolitical tensions, and uncertainty about the Federal Reserve's monetary policy moves.

RTTNews | 9h 28min ago

Swiss Market Ends Marginally Up

The Switzerland market closed marginally up on Monday after spending much of the day's session in negative territory. It was a lackluster session with investors looking for directional cues and refraining from making significant moves.

RTTNews | 10h 24min ago

EURUSD	1.05924	GBPUSD	1.26766	AUDUSD	0.65031
USDJPY	154.477	USDCAD	1.40228	USDCHF	0.88333