Canadian Stocks Rising Sharply On All-round Buying

RTTNews | 836 days ago
Canadian Stocks Rising Sharply On All-round Buying

(RTTNews) - The Canadian market is up sharply in positive territory a little past noon on Monday, with stocks extending morning gains thanks to sustained buying interest.

Energy stocks are surging up north on firm crude oil prices. Crude oil futures are up nearly 4% at $83.25 a barrel.

Stocks from materials, industrials, utilities, communications and consumer staples sectors are up with handsome gains.

Several stocks from real estate, financials and consumer discretionary sectors are also up with impressive gains.

The benchmark S&P/TSX Composite Index is up 450.02 or about 2.4% at 18,894.24 about an hour past noon.

The Energy Capped Index is up 5.31%. Crescent Point Energy (CPG.TO), Suncor Energy (SU.TO), Precision Drilling (PD.TO), Baytex Energy (BTE.TO), Athabasca Oil Corp (ATH.TO), Nuvista Energy (NVA.TO), Cenovus Energy (CVE.TO), Canadian Natural Resources (CNQ.TO) and Imperial Oil (IMO.TO) are gaining 5 to 7%.

Endeavour Silver Corp (EDR.TO), up 10.1%, is the top gainer in the Materials Index, which is up 2.3%. Ivanhoe Mines (IVN.TO), First Majestic Silver Corp (FR.TO), Hudbay Minerals (HBM.TO), Eldorado Gold (ELD.TO), Silvercrest Metals (SIL.TO), Capstone Mining Corp (CS.TO), Fortuna Silver Mines (FVI.TO) and MAG Silver Corp (MAG.TO) are gaining 5 to 8.2%.

Industrials stock Ats Automation (ATA.TO) is rising 7.2%. Nfi Group (NFI.TO), Cargojet (CJT.TO), Tfi International (TFII.TO), Finning International (FTT.TO), Badger Infrastructure (BDGI.TO) and Snc-Lavalin (SNC.TO) are gaining 4 to 5.4%.

Financials shares Power Corporation of Canada (POW.TO), Onex Corp (ONEX.TO), CDN Western Bank (CWB.TO), Sun Life Financial (SLF.TO), Manulife Financial (MFC.TO), Toronto-Dominion Bank (TD.TO), Laurentian Bank (LB.TO), Canadian Imperial Bank of Commerce (CM.TO), Bank of Montreal (BMO.TO) and National Bank of Canada (NA.TO) are up 1.5 to 3%.

Technology stocks Sylogist (SYZ.TO), Constellation Software (CSU.TO), Quarterhill (QTRH.TO), Hut 8 Mining (HUT.TO), Celestica Inc (CLS.TO), Magnet Forensics (MAGT.TO), CGI Group (GIB.A.TO) and Descartes Systems (DSG.TO) are gaining 1.5 to 3.2%.

On the economic front, the S&P Global Canada Manufacturing PMI was at 49.8 in September of 2022, edging higher from the 48.7 in the prior month., but marking the second consecutive month of contraction in Canadian factory activity.

read more
Losing Streak May Continue For Malaysia Stock Market

Losing Streak May Continue For Malaysia Stock Market

The Malaysia stock market has finished lower in four straight sessions, slipping almost 50 points or 2.6 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,555-point plateau and it may take further damage again on Friday.
RTTNews | 5h 15min ago
Japan Stock Market May See Renewed Consolidation

Japan Stock Market May See Renewed Consolidation

The Japanese stock market on Thursday ended the five-day losing streak in which it had plummeted more than 1,630 points or 4.3 percent. The Nikkei 225 now rests just above the 38,570-point plateau although it may hand back those gains on Friday.
RTTNews | 5h 30min ago
South Korea Shares Likely To Remain Rangebound

South Korea Shares Likely To Remain Rangebound

The South Korea stock market has moved higher in two of three trading days since the end of the two-day slide in which it had fallen almost 35 points or 1.4 percent. The KOSPI now sits just above the 2,525-point plateau although it figures to head south again on Friday.
RTTNews | 5h 45min ago
China Data On Tap For Friday

China Data On Tap For Friday

China is scheduled to release a batch of data on Friday, headlining a modest day for Asia-Pacific economic activity. On tap are Q4 numbers for GDP and December figures for industrial production, retail sales, fixed asset investment and unemployment.
RTTNews | 6h 15min ago
TSX Closes Higher For 3rd Straight Day

TSX Closes Higher For 3rd Straight Day

Canadian stocks closed higher on Thursday, extending gains to a third straight session, with investors shifting their focus to earnings updates and expecting a couple of rate cuts by the Federal Reserve this year.
RTTNews | 7h 1min ago
Swiss Market Ends On Buoyant Note

Swiss Market Ends On Buoyant Note

The Switzerland market closed on a buoyant note on Thursday after holding firm start to finish thanks to sustained buying at several counters after recent data from U.S. raised hopes of some interest rate cuts by the Federal Reserve this year.
RTTNews | 9h 16min ago