Canadian Market Down Sharply On Widespread Selling

RTTNews | 127 gün önce

(RTTNews) - The Canadian market is down sharply in negative territory around noon on Tuesday with stocks from across several sectors reeling under a severe bout of selling pressure.

Energy and materials stocks are down on weak commodity prices. Technology and consumer discretionary stocks are among the other major losers.

The benchmark S&P/TSX Composite Index is down 290.91 or 1.24% at 23,055.27 at noon.

The Materials Capped Index is down as much as 4.2% with several stocks in the section recording sharp losses. Capstone Mining Corp (CS.TO), Lundin Mining Corp (LUN.TO) and First Quantum Minerals (FM.TO) are plunging 10.5 to 11.2%.

Ivanhoe Mines (IVN.TO), Hudbay Minerals (HBM.TO), New Gold (NGD.TO), Aya Gold & Silver (AYA.TO), Fortuna Silver Mines (FVI.TO), Ero Copper (ERO.TO), Centerra Gold (CG.TO), Seabridge Gold (SEA.TO), Teck Resources (TECK.B.TO), MAG Silver (MAG.TO) and Silvercrest Metals (SIL.TO) are down 5 to 8%.

The Energy Capped Index is down 3.3%. International Petroleum Corp (IPCO.TO) is down 8%, Baytex Energy (BTE.TO) is lower by 6.7% and Africa Oil Corp (AOI.TO) is declining nearly 6%. Ces Energy Solutions (CEU.TO), Precision Drilling Corp (PD.TO), Veren Inc (VRN.TO), Vermilion Energy (VET.TO) and MEG Energy (MEG.TO) are down 4 to 7%.

Technology stocks Celestica Inc (CLS.TO), Bitfarms (BITF.TO), Coveo Solutions (CVO.TO), BlackBerry (BB.TO), Constellation Software (CSU.TO), Converge Technology Solutions (CTS.TO), Shopify Inc (SHOP.TO), Tecsys Inc (TCS.TO) and Enghouse Systems (ENGH.TO) are down 1.6 to 6%.

Consumer discretionary stocks Brp Inc (DOO.TO), Aritzia Inc (ATZ.TO), Mty Food Group (MTY.TO), Spin Master Corp (TOY.TO), Linamar Corp (LNR.TO), Dollarama Inc (DOL.TO) and Magna International (MG.TO) are down 1.6 to 2.7%.

Colliers International Inc (CIGI.TO) announced today that its subsidiary Colliers Engineering & Design Australia is acquiring Pritchard Francis Consulting, a privately-held Western Australia multi-discipline engineering consulting firm. The stock is down by about 1%.

On the economic front, the S&P Global Canada Manufacturing PMI rose to 49.5 in August 2024 from 47.8 in July, signaling the softest contraction in operating conditions since March and extending the decline to 16 months.

European Economic News Preview: Germany Industrial Output, Trade Data Due

Industrial production and foreign trade from Germany and retail sales from the euro area are the top economic news due on Thursday. At 2.00 am ET, Destatis is slated to issue Germany's industrial output and trade figures. Exports are expected to rebound 2.0 percent on month in November and imports to climb 0.7 percent.

RTTNews | 5s 18 dakika önce

China Inflation Eases To 0.1%; PPI Continues To Drop

China's consumer price inflation softened further in December and producer prices declined for 27 consecutive months despite Beijing initiating stimulus measures to revive domestic demand. Consumer prices grew only 0.1 percent on a yearly basis in December, slower than the 0.2 percent increase seen in November, figures from the National Bureau of Statistics revealed on Thursday.

RTTNews | 5s 25 dakika önce

European Shares May Struggle To Find Footing Amid Economic Uncertainty

European stocks may struggle for direction on Thursday, with trading volumes likely to remain thin due to a holiday in the U.S. to honor the death of former President Jimmy Carter.

RTTNews | 6s 44 dakika önce

Sensex, Nifty Open Lower On Weak Global Cues

Indian shares were subdued on Thursday, tracking weak cues from global markets as Chinese inflation data disappointed and reports suggested that U.S. President-elect Donald Trump was mulling a national economic emergency declaration to provide legal justification for a series of universal tariffs on allies and adversaries.

RTTNews | 7s 38 dakika önce

Asian Markets Mostly Lower

Asian stock markets are trading mostly lower on Thursday, following the mixed cues from Wall Street overnight, amid uncertainty about the outlook for interest rates following mixed U.S. jobs data. The minutes of the US Fed's latest monetary policy meeting also did not provide much insight into interest rates other than to suggest officials plan to take a "careful approach" to future decisions.

RTTNews | 8s 51 dakika önce

Australian Market Slightly Trims Early Losses In Mid-market

The Australian market slightly trimmed the early losses and is trading notably lower in mid-market moves on Thursday. The benchmark S&P/ASX 200 is falling to near the 8,300 level, with weakness across most sectors led by technology and financial stocks. Gold miners remain the only bright spot.

RTTNews | 9s 30 dakika önce

Sensex, Nifty Likely To Open On Cautious Note

Indian shares are seen opening on a cautious note Thursday as investors await cues from the upcoming Q3 earnings season and prepare for the highly anticipated U.S. jobs report due on Friday that could shed more light on the Federal Reserve's policy outlook.

RTTNews | 9s 42 dakika önce

Thai Shares May Tick Higher On Thursday

The Thai stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had slumped more than 20 points or 1.5 percent. The Stock Exchange of Thailand now sits just beneath the 1,390-point plateau and they're expected to open slightly to the upside on Thursday.

RTTNews | 10s 13 dakika önce

EURUSD	1.03058	GBPUSD	1.22937	AUDUSD	0.61986
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