TSX Ends Modestly Lower After Volatile Session

RTTNews | 1280 일 전

(RTTNews) - The Canadian market ended modestly lower on Friday after stocks turned in a mixed performance in cautious trade as investors assessed the possible impact of the rate hikes by central banks on global growth.

It is feared that tighter monetary policies by central banks might push the economy into recession next year.

The benchmark S&P/TSX Composite Index ended with a loss of 73.58 points or 0.39% at 18,930.48 after scaling a low of 18,787.68 and a high of 19,193.97 intraday.

Energy stocks tumbled, contributing substantially to market's negative close. The Energy Capped Index fell 5.72% as several key stocks in the sector plunged on weak crude oil prices.

Healthcare, technology, communications, consumer discretionary, real estate and industrials shares moved higher.

Vermilion Energy (VET.TO), Parex Resources (PXT.TO), Suncor Energy (SU.TO), Paramount Resources (POU.TO), Tourmaline Oil Corp (TOU.TO) and Canadian Natural Resources (CNQ.TO) lost 5 to 8.6%.

Precision Drilling (PD.TO), Teck Resources (TECK.B.TO), Fairfax Financial Holdings (FFH.TO), Methanex Corp (MX.TO), Nutrien (NTR.TO) and Imperial Oil (IMO.TO) were among the other major losers in the session.

Lightspeed Commerce (LSPD.TO) rallied more than 7%. Colliers International (CIGI.TO), Canadian Tire Corporation (CTC.TO), Kinaxis Inc (KXS.TO), Shopify Inc (SHOP.TO), CargoJet (CJT.TO) and Boyd Group Services (BYD.TO) gained 2 to 5%.

On the economic front, data from Statistics Canada showed the Raw Materials Price Index in Canada surged 37.4% year-on-year in May of 2022, following a 38.3% rise in April. On monthly basis, the raw materials price index increased 2.5% in May, rebounding from a 2.1% fall in April.

Producer prices in Canada jumped 1.7% month-over-month in May of 2022, picking up from a 0.8% increase in April. Producer prices in Canada increased 15% in May of 2022 over the same month in the previous year, the data showed.

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 | 2 시간 24 분 전

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 | 3 시간 4 분 전

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 | 3 시간 44 분 전

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 | 4 시간 16 분 전

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 | 4 시간 34 분 전

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 | 4 시간 46 분 전

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 | 5 시간 39 분 전

Indian Shares Rebound After Four Days Of Losses

Indian shares closed higher on Friday after four consecutive sessions of losses.

RTTNews | 5 시간 42 분 전

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