Teck Resources Q4 Profit Plunges; Backs FY23 Production Outlook

Teck Resources Rejects Unsolicited Acquisition Offer From Glencore

Teck Resources Ltd. (TECK, TECK.A.TO) announced Monday that the Board of Directors of Teck has received and unanimously rejected an unsolicited and opportunistic acquisition proposal from Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L), which would see that company acquire Teck and subsequently separate to create two businesses, which would expose Teck shareholders to thermal coal and oil trading.

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Swiss Franc Recovers Against Majors

The Swiss franc recovered against its major counterparts in the New York session on Friday.

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Euro Advances Against Most Majors

The euro climbed against its most major counterparts in the New York session on Friday.

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Canadian Market Slightly Lower In Cautious Trade

After three successive days of gains, the Canadian market is exhibiting weakness on Friday and looks set to end the day's session on a negative note.

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Swiss Market Ends Modestly Higher

The Swiss market closed modestly higher on Friday after moving in a tight bandwith investors digesting earnings updates and continuing to track the developments on the tariff front.

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European Stocks Close Higher

Despite lingering uncertainty about U.S. government's trade policy, European stocks closed higher on Friday, with German and French markets gaining for a fourth straight session, and the U.K. moving up for the tenth consecutive session, as investors focused on earnings.

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U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.

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Russia Holds Key Interest Rate As Expected

The Bank of Russia left its interest rate unchanged as widely expected on Friday, despite high inflationary pressures. The board of directors, governed by Elvira Nabiullina, maintained the key interest rate at a record high 21.00 percent. The Russian central bank has raised the key interest rate by 1,350 basis points since July 2023.

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EURUSD	1.13806	GBPUSD	1.33291	AUDUSD	0.6403
USDJPY	143.574	USDCAD	1.38593	USDCHF	0.82707

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Teck Resources Q4 Profit Plunges; Backs FY23 Production Outlook