Canadian Market Down In Negative Territory; Shopify Tanks On Weak Results
(RTTNews) - The Canadian market is notably lower Wednesday morning, weighed down by disappointing results from some big name companies, including Shopify Inc. A bit of uncertainty about the outlook for Fed interest rates also appear to be forcing investors into a defensive mood.
The benchmark S&P/TSX Composite Index, which dropped to 20,048.94 earlier in the session, is down 119.07 points or 0.52% at 22,171.55 about half an hour before noon.
Shopify Inc (SHOP.TO) shares are down nearly 20% after the company reported a net loss of $273.00 million for the quarter ended March 2024, compared to net profit of US$68.00 million in the year-ago quarter.
NexGen Energy shares are plunging nearly 10%. The company announced that it has entered into a binding term sheet with MMCap International Inc. for the purchase of 2,702,410 pounds natural uranium concentrate for an aggregate purchase price of US$250 million.
Aritzia Inc (ATZ.TO) is down 4.7%. Bausch Health Companies (BHC.TO), Capstone Mining (CS.TO), Cameco Corporation (COO.TO), Spin Master Corp (TOY.TO), Bombardier Inc (BBD.B.TO), Teck Resources (TECK.B.TO), Lundin Mining (LUN.TO), First Quantum Minerals (FM.TO), NuVista Energy (NVA.TO) and Lightspeed Commerce (LSPD.TO) are down 2 to 3%.
Stella-Jones Inc (SJ.TO) is soaring nearly 9% after the company reported a net income of $77 million or $1.36 per share for the first quarter of 2024, up 32% from the year-ago quarter.
Nuvei Corporation (NVEI.TO) reported adjusted net income of $62.5 million for the first quarter, down 3% from $64.5 million a year ago. The stock is down marginally.
B2Gold Corp (BTO.TO) is gaining 2.5%. The company posted a net income of $48.5 million in the first quarter of 2024, compared to $102 million in the year-ago quarter.
Goeasy Ltd. (GSY.TO) reported a net income of $58.9 million for the first quarter, up 15% from $51.4 million in the same period of 2023. The stock is down 1.65%.
Suncor Energy (SU.TO) is gaining 1.5% after the company reported adjusted operating earnings of $1,817 million for the first quarter of 2024, compared to $1,809 million a year ago.
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Higher Open Anticipated For Thai Stock Market
The Thai stock market on Monday ended the two-day losing streak in which it had slumped almost 10 points or 0.8 percent. The Stock Exchange of Thailand now sits just above the 1,450-point plateau and it's got a positive lead again for Tuesday's trade.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
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5小时27分钟前
Indonesia Stock Market Due For Support On Tuesday
The Indonesia stock market has finished lower in four straight sessions, shedding almost 190 points or 2.5 percent along the way. The Jakarta Composite Index now rests just beneath the 7,135-point plateau although it may stop the bleeding on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The JCI finished modestly lower on Monday following losses from the financial shares and mixed performances from the cement and resource companies.
For the day, the index shed 26.98 points or 0.38 percent to finish at 7,134.28 after trading between 7,118.87 and 7,174.75.
Among the actives, Bank CIMB Niaga sank 0.84 percent, while Bank Mandiri fell 0.39 percent, Bank Danamon Indonesia shed 0.40 percent, Bank Negara Indonesia declined 0.81 percent, Bank Central Asia tumbled 1.72 percent, Bank Rakyat Indonesia tanked 2.68 percent, Indosat Ooredoo Hutchison dropped 0.88 percent, Indocement lost 0.72 percent, Semen Indonesia rose 0.28 percent, United Tractors surrendered 2.64 percent, Astra International dipped 0.20 percent, Energi Mega Persada rallied 3.15 percent, Astra Agro Lestari stumbled 2.70 percent, Aneka Tambang slid 0.36 percent, Jasa Marga slumped 0.44 percent, Vale Indonesia plunged 3.40 percent, Timah retreated 0.76 percent, Bumi Resources surged 2.68 percent and Bank Maybank Indonesia and Indofood Sukses Makmur were unchanged.
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5小时57分钟前
Australian Market Significantly Higher
Adding to the gains in the previous three sessions, the Australian stock market is trading significantly higher on Tuesday, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by energy and mining stocks amid upbeat commodity prices.
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6小时11分钟前
Hong Kong Stock Market May Extend Monday's Gains
The Hong Kong stock market on Monday snapped the six-day losing streak in which it had plummeted more than 1,610 points or 7.6 percent. The Hang Seng Index now sits just above the 19,575-point plateau and it's expected to open to the upside again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The Hang Seng finished modestly higher on Monday following gains from the financial shares and entertainment stocks, while the property and technology companies were mixed.
For the day, the index advanced 150.27 points or 0.77 percent to finish at 19,576.61 after trading between 19,470.43 and 19,781.08.
Among the actives, Alibaba Group slumped 1.03 percent, while Alibaba Health Info slid 0.26 percent, ANTA Sports fell 0.31 percent, China Life Insurance collected 1.30 percent, China Mengniu Dairy dropped 0.83 percent, China Resources Land advanced 1.06 percent, CITIC rallied 1.37 percent, CNOOC climbed 1.31 percent, CSPC Pharmaceutical and Techtronic Industries both dipped 0.19 percent, Galaxy Entertainment added 0.31 percent, Haier Smart Home plummeted 3.04 percent, Hang Lung Properties sank 0.47 percent, Henderson Land retreated 1.20 percent, Hong Kong & China Gas skidded 1.00 percent, Industrial and Commercial Bank of China soared 3.04 percent, JD.com surged 3.62 percent, Lenovo plunged 2.07 percent, Li Auto improved 0.74 percent, Li Ning shed 0.37 percent, Meituan lost 0.35 percent, New World Development tumbled 1.52 percent, Nongfu Spring jumped 1.94 percent, Xiaomi Corporation spiked 2.86 percent and WuXi Biologics declined 1.07 percent.
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6小时12分钟前
China Bourse May Halt Losing Streak On Tuesday
The China stock market has finished lower in three straight sessions, slumping almost 120 points or 3.7 percent along the way. The Shanghai Composite now sits just beneath the 3,325-point plateau although it's due for support on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The SCI finished slightly lower on Monday as losses from the resource stocks were mitigated by support from the financial shares and properties.
For the day, the index slipped 6.88 points or 0.,21 percent to finish at 3,323.85 after trading between 3,309.01 and 3,386.90. The Shenzhen Composite Index stumbled 43.83 points or 2.18 percent to end at 1,966.78.
Among the actives, Industrial and Commercial Bank of China accelerated 2.31 percent, while Bank of China spiked 2.88 percent, China Construction Bank climbed 1.01 percent, China Merchants Bank rose 0.21 percent, Agricultural Bank of China collected 2.13 percent, China Life Insurance was up 0.09 percent, Jiangxi Copper fell 0.23 percent, Aluminum Corp of China (Chalco) tumbled 2.26 percent, Yankuang Energy improved 0.58 percent, PetroChina and China Vanke both strengthened 1.49 percent, China Petroleum and Chemical (Sinopec) gained 0.63 percent, Huaneng Power rallied 1.40 percent, China Shenhua Energy soared 3.21 percent, Gemdale jumped 1.90 percent and Poly Developments added 0.69 percent.
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6小时27分钟前
Taiwan Shares May Bounce Higher Again On Tuesday
The Taiwan stock market turned lower again on Monday, one session after ending the four-day losing streak in which it had tumbled almost 850 points or 3.6 percent. The Taiwan Stock Exchange now rests just beneath the 22,550-point plateau and it may see additional support on Tuesday.
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6小时57分钟前
Rebound Anticipated For Singapore Stock Market
The Singapore stock market on Monday ended the three-day winning streak in which it had collected more than 30 points or 0.8 percent. The Straits Times Index now sits just above the 3,730-point plateau although it's likely to bounce higher again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index lost 12.15 points or 0.32 percent to finish at 3,732.55 after trading between 3,727.94 and 3,754.82.
Among the actives, CapitaLand Integrated Commercial Trust skidded 1.01 percent, while CapitaLand Investment advanced 0.72 percent, City Developments added 0.39 percent, DBS Group retreated 1.26 percent, DFI Retail surged 3.42 percent, Hongkong Land tanked 2.14 percent, Keppel DC REIT sank 0.45 percent, Keppel Ltd rose 0.30 percent, Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust rallied 0.81 percent, SATS plunged 2.60 percent, Seatrium Limited declined 1.08 percent, SembCorp Industries tumbled 1.37 percent, Singapore Technologies Engineering plummeted 5.52 percent, SingTel dropped 0.63 percent, Thai Beverage jumped 0.97 percent, Wilmar International spiked 1.31 percent, Yangzijiang Shipbuilding slumped 0.79 percent and Emperador, Genting Singapore, Yangzijiang Financial, Frasers Logistics & Commercial Trust, Oversea-Chinese Banking Corporation, Frasers Centrepoint Trust, Mapletree Logistics Trust and Comfort DelGro were unchanged.
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7小时27分钟前
Malaysia Stock Market Poised To Open To The Upside On Tuesday
The Malaysia stock market on Monday snapped the two-day slide in which it had slumped almost 20 points or 1.2 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it's tipped to open in the green again on Tuesday.
The global forecast for the Asian markets is cautiously optimistic, with technology and oil stocks expected to lead the way higher. The European and U.S. markets were mostly higher and the Asian bourses are also likely to open to the upside.
The KLCI finished modestly higher on Monday following gains from the telecoms and plantations, while the financial and industrial sectors were mixed.
For the day, the index improved 11.60 points or 0.73 percent to finish at 1,604.04 after trading between 1,591.49 and 1,605.41.
Among the actives, Axiata rallied 1.34 percent, while Celcomdigi strengthened 1.20 percent, CIMB Group was up 0.24 percent, Genting gained 0.53 percent, Genting Malaysia jumped 1.42 percent, IHH Healthcare eased 0.14 percent, IOI Corporation accelerated 1.53 percent, Kuala Lumpur Kepong gathered 0.46 percent, Maxis surged 3.78 percent, Maybank dipped 0.19 percent, MISC sank 0.66 percent, MRDIY added 0.55 percent, Nestle Malaysia slid 0.20 percent, Petronas Chemicals fell 0.22 percent, PPB Group dropped 0.70 percent, Press Metal skyrocketed 6.59 percent, Public Bank collected 0.67 percent, QL Resources improved 0.84 percent, RHB Bank rose 0.47 percent, Sime Darby perked 0.45 percent, SD Guthrie soared 2.29 percent, Sunway spiked 1.72 percent, Telekom Malaysia increased 0.48 percent, Tenaga Nasional climbed 1.13 percent, YTL Corporation shed 0.51 percent and YTL Power was unchanged.
The lead from Wall Street suggests mild upside as the major averages opened on opposite sides of the line on Monday and maintained a fairly narrow trading range before ending mixed.
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7小时57分钟前
