Canadian Market Recovers Well After Early Setback

RTTNews | Pred 10 h 19 min

(RTTNews) - e Canadian market, which slid in early trades Tuesday morning on hot inflation data, and rising geopolitical concerns following an escalation in Russia - Ukraine war, recovered lost ground subsequently with a few frontline stocks finding some solid support at lower levels.

Data from Statistics Canada showed the annual inflation rate in Canada rose to 2% in October from an over-three-year low of 1.6% in the previous month. The consumer price index increased 0.4% in October over the previous month.

The annual core inflation rate in Canada increased to 1.7% in October, up from 1.6% a month earlier. On a monthly basis, core consumer prices rose by 0.4% in October, after being flat in the prior month.

Market is also weighed down by rising geopolitical concerns after Russian President Vladimir Putin updated nuclear doctrine.

Kremlin has warned that it would consider a nuclear strike if it was subject to a conventional missile assault supported by a nuclear power.

The benchmark S&P/TSX Composite Index, which dropped to 24,787.79, losing nearly 200 points, has recovered to 24,974.40, down just 2.54 points from previous close.

Molson Coors Canada (TPX.B.TO), Hut 8 Corp (HUT.TO), Finning International (FTT.TO), Brookfield Infrastructure (BIPC.TO) and Boralex Inc (BLX.TO) are down 2 to 4%.

George Weston (WN.TO) is down nearly 2%. The company reported adjusted diluted net earnings of $3.57 per common share in the third quarter, up $0.21 or about 6.3%, compared to a year ago.

Calian Group (CGY.TO), Canadian Natural Resources (CNQ.TO), Badger International (BDGI.TO), Aritzia Inc (ATZ.TO), Magna International (MG.TO), Loblaw Companies (L.TO), Canadian Pacific Kansas City (CP.TO), MTY Food Group (MTY.TO), Cargoje (CJT.TO), Linamar Corporation (LNR.TO) and Stella-Jones Inc (SJ.TO) are down 1 to 1.7%.

Dye & Durham (DND.TO) is up nearly 14%. Barrick Gold Corporation (ABX.TO), Rogers Communications (RCI.A.TO), Cameco Corporation (CCO.TO), Agnico Eagle Mines (AEM.TO), TerraVest Industris (TVK.TO), Celestica Inc (CLS.TO), Wheaton Precious Metals (WPM.TO), Methanex Corporation (MX.TO), Teck Resources (TECK.B.TO) and Franco-Nevada Corporation (FNV.TO) are gaining 1.5 to 2.5%.

Dollar Turns In Mixed Performance Against Major Counterparts

After displaying some strength in the European session, the U.S. dollar pared gains and stayed largely subdued in the New York session on Tuesday with traders closely following the developments on the geopolitical front and assessing recent data from the U.S., and other major economies.

RTTNews | Pred 5 h 34 min

South Korea Producer Prices Slip 0.1% In October

Producer prices in South Korea were down a seasonally adjusted 0.1 percent on month in October, the Bank of Korea said on Wednesday - after easing 0.2 percent in September.

RTTNews | Pred 6 h 18 min

Swiss Market Ends Notably Lower

After spending a few minutes in positive territory in early trades on Tuesday, the Switzerland market retreated and spent the rest of the day's session in the red, as geopolitical tensions, interest rate uncertainty and concerns about the outlook for global economic growth rendered the mood bearish.

RTTNews | Pred 9 h 7 min

Canadian Dollar Climbs As Inflation Accelerates

The Canadian dollar strengthened against its major counterparts in the New York session on Tuesday, following the release of hotter-than-expected inflation data for October.

RTTNews | Pred 9 h 22 min

European Stocks Close Weak On Geopolitical Concerns, Growth Worries

European stocks closed weak on Tuesday amid an escalation in Russia - Ukraine war and concerns about the outlook for global economic growth rendered the mood bearish. Investors moved away from riskier assets after Russian President Vladimir Putin updated nuclear doctrine.

RTTNews | Pred 9 h 32 min

U.S. Housing Starts Tumble 3.1% In October, More Than Expected

New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said housing starts dove by 3.1 percent to an annual rate of 1.311 million in October after slumping by 1.9 percent to a revised rate of 1.353 million in September.

RTTNews | Pred 12 h 55 min

U.S. Housing Starts Tumble More Than Expected In October

New residential construction in the U.S. tumbled by more than expected in the month of October, according to a report released by the Commerce Department on Tuesday.

RTTNews | Pred 13 h 53 min

Eurozone Inflation Rises To 2% As Estimated

Eurozone inflation returned to the 2 percent target in October, final data from Eurostat showed on Tuesday. The harmonized index of consumer prices climbed as initially estimated in October after rising 1.7 percent in September. Core inflation that excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.7 percent in October.

RTTNews | Pred 14 h 12 min

EURUSD	1.0594	GBPUSD	1.26773	AUDUSD	0.65306
USDJPY	154.619	USDCAD	1.3957	USDCHF	0.88206