Bay Street Seen Opening On Mixed Note

RTTNews | 699 дней спустя

(RTTNews) - Canadian shares are likely to open on a mixed note on Wednesday with investors assessing the most recent economic data and the outlook for Federal Reserve's interest rate.

In company news, BELLUS Health Inc. (BLU.TO) reported positive data from its Phase 1 bioavailability equivalence study evaluating a once-daily Extended-Release formulation of camlipixant in comparison to a twice-daily Immediate Release formulation.

BELLUS Health said the results establish proof of concept for developing a once-daily ER formulation of camlipixant.

Roots Corporation (ROOT.TO) reported fourth-quarter net income of $13 million, compared with $18,1 million in the year-ago quarter.

On the economic front, Canada's trade data for the month of February is due at 8:30 AM ET.

Canada posted a trade surplus of C$ 1.92 billion in January of 2023, widening from the revised surplus of c$ 1.2 billion in the previous month. Exports jumped by 4.2%, while imports rose by 3.1% in January.

After seven successive days of gains, the Canadian market turned a bit weak on Tuesday, but still managed a good recovery to eventually end the day's session with just a marginal loss.

The benchmark S&P/TSX Composite Index, which climbed to 20,361.26 in early trades, fell to 20,203.25 a little past noon, but recovered to finally end the session at 20,203.25, down just 2.52 points from the previous close.

Asian stocks ended mixed on Wednesday in thin trading, with the mainland China and Hong Kong markets closed for a holiday.

Amid rising worries over inflation and growth, investors kept a close eye on oil price movements and awaited key U.S. data due this week for additional clues on the growth and interest rate outlook.

European stocks are weak as higher oil prices and weak U.S. data rekindle recession worries.

In commodities, West Texas Intermediate Crude oil futures are down $0.14 or 0.17% at $80.57 a barrel.

Gold futures are up $2.00 or 0.1% at $2,040.20 an ounce, while Silver futures are down $0.206 or 0.82% at $24.895 an ounce.

Bay Street Seen Opening With Negative Bias

Canadian shares may open with a negative bias Tuesday morning as trade war heats up with Canada retaliating with tariffs on over $1 billion worth of US imports within hours of U.S. President Donald Trump's announcement that tariffs on goods and Canada and Mexico will become effective today.

RTTNews | 5ч 14мин назад

TSMC Shares Gain On $100 Bln US Investment

Shares of Taiwan Semiconductor Manufacturing Co. or TSMC were gaining around 2 percent in the pre-market activity on the NYSE after the chipmaker announced its additional $100 billion investment in the United States to build five more facilities for advanced chip manufacturing, as part of the ongoing efforts in the country to boost artificial intelligence.

RTTNews | 6ч 11мин назад

Eurozone Jobless Rate Steady At Record Low

Euro area unemployment rate remained unchanged at a record low in January despite weaker economic activity, official data showed Tuesday. The jobless rate stood at 6.2 percent in January, unchanged from December, Eurostat reported. This was down from 6.5 percent in the same period last year. The expected rate was 6.3 percent.

RTTNews | 6ч 42мин назад

FTSE 100 Modestly Lower In Cautious Trade

The UK market is off early lows in late morning trade on Tuesday with investors largely making stock specific moves, reacting to quarterly earnings updates. Worries about trade war following new U.S. tariffs against China, Canada and Mexico taking effect today.

RTTNews | 7ч 25мин назад