Bay Street Likely To Open On Positive Note

RTTNews | Pred 13 h 8 min

(RTTNews) - Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.

The market is also likely to react positively to news about U.S. and Ukraine agreeing on a minerals deal. U.S. President Donald Trump's $4.5 trillion tax-cut and border security agenda may also lift sentiment. The agenda will be sent to the U.S. Senate after passing the Republican-controlled House of Representatives.

The National Bank of Canada reported first-quarter net income of $997 million, up 8% from $922 million in the first quarter of 2024. First-quarter diluted earnings per share stood at $2.78 compared to $2.59 in the first quarter of 2024.

George Weston Ltd. (WN.TO) reported adjusted net earnings of $415 million for the fourth-quarter of 2024, an increase of $73 million, or 21.3%, compared to earnings in the year-ago quarter.

The Canadian market closed higher on Tuesday as a firm show by Bank of Montreal thanks to encouraging results, and gains in consumer staples and real estate sectors outweighed weakness in energy, materials and technology sectors.

Worries about imminent tariffs by Trump administration limited the market's upside.

The benchmark S&P/TSX Composite Index closed up 52.72 points or 0.21% at 25,203.98, recovering well from an early low of 24,946.06.

Asian markets ended mixed on Wednesday as inflation and trade war fears offset Chinese AI optimism.

Tariff worries prevailed as U.S. President Donald Trump ordered a probe into potential tariffs on copper imports to boost U.S. production of the critical metal.

Treasury yields rebounded but the dollar remained undermined by growth worries. Gold lingered near one-week lows despite rising bets on earlier Fed rate cuts.

European stocks are up firmly in positive territory with investors reacting to earnings updates and news about U.S. and Ukraine agreeing on a minerals deal

In commodities, West Texas Intermediate crude oil futures are down $0.19 or 0.27% at $68.74 a barrel.

Gold futures are gaining $9.70 or 0.33% at $2,928.70 an ounce, while Silver futures are up $0.319 or 1% at $32.145 an ounce.

TSX Remains Positive Despite Coming Off Early Highs

The Canadian market has pared most of its gains Wednesday afternoon, with investors largely reacting to earnings updates, and monitoring geopolitical developments. Despite concerns about fresh tariffs, the market is positive as news about U.S. and Ukraine agreeing on a minerals deal is aiding sentiment.

RTTNews | Pred 6 h 37 min

Swiss Market Ends Marginally Up

The Switzerland market pared some intraday gains and ended marginally up on Wednesday as stocks stayed a bit sluggish past mid afternoon.

RTTNews | Pred 7 h 47 min

European Stocks Close On Firm Note On Results

European stocks closed higher on Wednesday, reacting to some strong earnings updates, and slightly easing geopolitical concerns following Ukraine and the U.S. agreeing on a minerals deal.

RTTNews | Pred 8 h 18 min

U.S. New Home Sales Plunge Much More Than Expected In January

A report released by the Commerce Department on Wednesday showed a substantial pullback by new home sales in the U.S. in the month of January. The Commerce Department said new home sales plunged by 10.5 percent to an annual rate of 657,000 in January after spiking by 8.1 percent to an upwardly revised rate of 734,000 in December.

RTTNews | Pred 10 h 35 min

German Consumer Confidence To Continue Negative Trend

Consumer sentiment in Germany is set to continue its negative trend as higher prices, economic and political uncertainty weigh on households' income expectations and their willingness to buy, a closely watched survey showed on Wednesday. The forward-looking consumer sentiment index unexpectedly fell to -24.7 in March from -22.6 in February, a survey jointly published GfK and NIM revealed.

RTTNews | Pred 13 h 43 min

Thailand Cuts Key Interest Rate By 25 Bps

The Thai central bank reduced its key interest rate on Wednesday to address the increasing downside risks to the economy amid persistently low inflation. The Monetary Policy Committee of Bank of Thailand voted 6-1 to cut the policy rate by 25 basis points to 2.00 percent from 2.25 percent. One rate-setter preferred to keep the rate unchanged.

RTTNews | Pred 14 h 24 min

Hong Kong Budget Focuses On Spending Cuts, Promoting AI

Hong Kong Financial Secretary Paul Chan unveiled the budget on Wednesday that largely focused on government spending cuts with minimal impact on people's livelihood and underscored the importance of artificial intelligence to enhance competitive edge. The government estimated a consolidated deficit of HK$87.2 billion for 2024-25, which was smaller than the HK$100 billion previous projection.

RTTNews | Pred 14 h 51 min

FTSE 100 Advances; Convatec Rises On Strong Earnings

U.K. stocks are notably higher Wednesday morning, lifted by gains in mining and banking sectors. Slightly easing concerns over U.S. - Ukraine tensions after the two countries agreed on a minerals deal aid sentiment. While mining stocks are up on firm copper prices, bank stocks are gaining thanks to some rating upgrades.

RTTNews | Pred 15 h 50 min

EURUSD	1.04798	GBPUSD	1.26717	AUDUSD	0.62997
USDJPY	149.131	USDCAD	1.43471	USDCHF	0.89483