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Canadian Market Ends On Weak Note; Energy Stocks Move Higher

RTTNews | 56 days ago

Canadian Market Ends On Weak Note; Energy Stocks Move Higher

(RTTNews) - The Canadian market ended weak on Thursday, weighed down by losses in real estate, materials and utilities sectors. However, the downside was just marginal thanks to strong and sustained buying at several counters in the energy sector.

Data showing a contraction in Canada's services sector for the third consecutive month, and conerns about rising tensions in the Middle East hurt sentiment.

The benchmark S&P/TSX Composite Index ended down 33.05 points or 0.14% at 23,968.50, after scaling a low of 23,823.96 and a high of 23,982.24 intraday.

Data from S&P Global said the Canada Composite PMI dropped to 47.0 in September, from 47.8 in August, marking a deeper contraction in private sector activity for the fourth consecutive month. The S&P Global Canada Services PMI fell to 46.4 in September, down from 47.8 in August, and marking the fourth consecutive month of decline.

Molson Coors (TPX.B.TO), Colliers International (CIGI.TO), Cogeco Communications (CCA.TO), Teck Resources (TECK.A.TO), Franco-Nevada Corporation (FNV.TO), Agnico Eagle Mines (AEM.TO), Restaurant Brands International (QSR.TO), Canadian Pacific Kansas City (CP.TO) and Constellation Software (CSU.TO) ended down 1.4 to 2.5%.

Methanex Corporation (MX.TO), Stantec (STN.TO), Imperial Oil (IMO.TO), Precision Drilling Corporation (PD.TO), Atkins Realis Group (ATRL.TO), Celestica Inc (CLS.TO) and Tourmaline Oil Corp (TOU.TO) gained 2.5 to 4%.

Goeasy (GSY.TO), Onex Corporation (ONEX.TO), CGI Inc (DIB.A.TO), Fairfax Financial Holdings (FFH.TO), Boyd Group Services (BYD.TO) nd Waste Connections (WCN.TO) also ended notably higher.

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UK Mortgage Approvals At More Than 2 Year High

UK Mortgage Approvals At More Than 2 Year High

UK mortgage approvals increased to the highest level in more than two years in October as falling interest rates boosted housing market activity but consumers became more cautious about borrowing and saving ahead of the Autumn Budget. Mortgage approvals for house purchases, an indicator of future borrowing, increased to 68,303 in October from 66,115 in the prior month, the Bank of England report

RTTNews | 6h 47min ago

Bay Street May Open Higher On Firm Metal Prices; GDP Data In Focus

Bay Street May Open Higher On Firm Metal Prices; GDP Data In Focus

Canadian shares may open higher on Friday with materials stocks set to ride on strong gold and silver prices. Data on Canadian GDP data for the third quarter is due out at 8:30 AM ET. As the U.S. market will close early today, volume of business on Bay Street will be thin for a second straight day.

RTTNews | 7h 20min ago

German Unemployment Rises Less Than Forecast

German Unemployment Rises Less Than Forecast

German unemployment increased less than expected in November despite companies reporting job cuts, figures from the Federal Employment Agency revealed Friday. The jobless rate came in at 6.1 percent, the same as in September and October. Also, the rate matched expectations. The number of people out of work increased only 7,000 after rising 26,000 in the previous month.

RTTNews | 7h 50min ago

French GDP Growth Accelerates; Inflation Rises Marginally

French GDP Growth Accelerates; Inflation Rises Marginally

The French economic growth accelerated as estimated in the third quarter on the Paris Olympic and Paralympic Games and inflation rose only marginally in November, official data revealed on Friday. Gross domestic product logged a quarterly growth of 0.4 percent in the third quarter, which was unchanged from the previous estimate, the statistical office INSEE reported. This follows a 0.2 percent ri

RTTNews | 9h 13min ago

Sensex, Nifty Rebound Sharply; Airtel And Pharma Stocks Top Gainers

Sensex, Nifty Rebound Sharply; Airtel And Pharma Stocks Top Gainers

Indian shares rebounded on Friday, after having seen steep declines the previous day on account of F&O expiry.

RTTNews | 9h 18min ago

European Shares Muted Ahead Of Key Inflation Reading

European Shares Muted Ahead Of Key Inflation Reading

European stocks slipped into the red on Friday ahead of the release of flash euro zone inflation data for November, due later in the day.

RTTNews | 10h 20min ago

FTSE 100 Muted In Cautious Trade

FTSE 100 Muted In Cautious Trade

U.K. stocks were muted on Friday ahead of the release of euro zone inflation data later in the day.

RTTNews | 10h 32min ago

CAC 40 Subdued On Budget Worries

CAC 40 Subdued On Budget Worries

French stocks traded lower on Friday, a day after the country's borrowing costs rose above those of Greece for the first time amid ongoing issues in politics and a weakening economy.

RTTNews | 10h 44min ago

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