TSX Recovers After Sharp Early Setback, Ends Roughly Flat

RTTNews | vor 1123 Tagen

(RTTNews) - After a weak start and a subsequent spell in the red that lasted well over an hour past noon, the Canadian market slowly emerged into positive territory around mid afternoon, but failed to hold gains and finally ended with a marginal loss on Monday.

Rising concerns about a surge in Covid-19 cases in China, and worries about geopolitical tensions weighed on stocks.

China reported three persons died after contracting Covid, marking first Covid-related deaths the country's mainland reported since May.

The surge in new cases has resulted in China imposing stringent restrictions in several cities, including Beijing and Shanghai.

The mood was down also due to concerns that future attacks by Russia on Ukraine's nuclear power supply could be catastrophic

The benchmark S&P/TSX Composite Index ended with a loss of 3.78 points or 0.02% at 19,977.13. The index dropped to a low of 19,787.05.

Healthcare, energy and technology stocks were among the major losers. Consumer staples and consumer discretionary stocks posted strong gains. A few stocks from industrials and real estate sectors also moved higher.

Bausch Health Companies Inc (BHC.TO) plunged 7.7%. Tilray Inc (TLRY.TO) ended 2.5% down, and Canopy Growth Corp (WEED.TO) closed lower by 1.8%.

Technology stocks Converge Technology Solutions (CTS.TO) and Hut 8 Mining Corp (HUT.TO) dropped 7.6% and 7.4%, respectively. Sylogist (SYZ.TO), Shopify Inc (SHOP.TO), Quarterhill (QTRH.TO), Nuvei Corp (NVE.TO), Alithya Group (ALYA.TO) and Shopify Inc (SHOP.TO) lost 2 to 4%.

Energy stocks Enerplus Corp (ERF.TO), MEG Energy Corp (MEG.TO), Athabasca Oil Corp (ATH.TO), Arc Resources (ARX.TO), Crescent Point Energy (CPG.TO), Whitecap Resources (WCP.TO), Cenovus Energy (CVE.TO) and Precision Drilling Corp (PD.TO) lost 2 to 3.1%.

Consumer discretionary shares Restaurant Brands International (QSR.TO) and Dollarama Inc (DOL.TO) gained 2.6% and 2.15%, respectively.

In the consumer staples section, Primo Water Corp (PRMW.TO) climbed more than 3%, Loblaw Company (L.TO) gained 2.2%, Empire Company (EMP.A.TO) advanced 1.35%, and Weston George (WN.TO) gained 1.2%.

U.S. Existing Home Sales Rise Less Than Expected In November

Existing home sales in the U.S. saw a modest increase in the month of November, the National Association of Realtors revealed in a report released on Friday. NAR said existing home sales rose by 0.5 percent to an annual rate of 4.13 million in November after jumping by 1.5 percent to an upwardly revised rate of 4.10 million in October.

RTTNews | vor 1Std 13 Minuten

Russia Cuts Key Rate By 50 Bps As Expected

Russia's central bank cut its interest rate by 50 basis points on Friday but reiterated that it will maintain policy tight to bring inflation back to the target. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate to 16.00 percent from 16.50 percent. The decision matched market expectations. The bank has lowered the interest rate by 400 basis points since Jun

RTTNews | vor 3Std 1 Minuten

Bay Street May Open Slightly Higher

The Canadian market, which snapped a four-day losing streak on Thursday, looks headed for a positive start Friday morning. Canadian retail sales data, and U.S. PCE reading are likely to make an impact.

RTTNews | vor 3Std 41 Minuten

FTSE 100 Flat In Cautious Trade

UK's FTSE 100 was flat a little past noon on Friday with investors largely refraining from making big moves. A report showing an improvement in consumer sentiment supported the market, while data showing an unexpected drop in retail sales appeared to render the mood cautious.

RTTNews | vor 4Std 22 Minuten

CAC 40 Roughly Flat In Lackluster Trading

France's CAC 40 was roughly flat a little past noon on Friday in somewhat lackluster trading as investors, digesting the recent policy announcements from the Bank of England and the European Central Bank, awaited the crucial PCE readings from the U.S., after yesterday's data showed an unexpected drop in consumer prices in the month of November in the world's largest economy.

RTTNews | vor 4Std 53 Minuten

Bank Of Japan Lifts Policy Rate; Hints At More Hikes

The Bank of Japan raised its benchmark rate by a quarter-point to the highest level in three decades as inflation continued to remain above the target and hinted at further hikes. The policy board, headed by Ueda Kazuo decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."

RTTNews | vor 5Std 11 Minuten

DAX Down Marginally As Stocks Turn In Mixed Performance

German stocks turned in a mixed performance Friday morning with investors assessing the monetary policy moves by the European Central Bank and the Bank of England, and data showing an unexpected drop in U.S. price growth.

RTTNews | vor 5Std 23 Minuten

UK Retail Sales Fall Unexpectedly

UK retail sales dropped unexpectedly in November as the Black Friday effect was slightly weaker than usual, data from the Office for National Statistics showed Friday. Retail sales dropped marginally by 0.1 percent in November from a month ago. The decline confounded expectations for an increase of 0.3 percent but this was slower than October's 0.9 percent decrease.

RTTNews | vor 6Std 16 Minuten

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