Bay Street Seen Opening On Mixed Note

RTTNews | 1259 days ago

(RTTNews) - Canadian shares are likely to open on a mixed note on Wednesday with investors assessing the most recent economic data and the outlook for Federal Reserve's interest rate.

In company news, BELLUS Health Inc. (BLU.TO) reported positive data from its Phase 1 bioavailability equivalence study evaluating a once-daily Extended-Release formulation of camlipixant in comparison to a twice-daily Immediate Release formulation.

BELLUS Health said the results establish proof of concept for developing a once-daily ER formulation of camlipixant.

Roots Corporation (ROOT.TO) reported fourth-quarter net income of $13 million, compared with $18,1 million in the year-ago quarter.

On the economic front, Canada's trade data for the month of February is due at 8:30 AM ET.

Canada posted a trade surplus of C$ 1.92 billion in January of 2023, widening from the revised surplus of c$ 1.2 billion in the previous month. Exports jumped by 4.2%, while imports rose by 3.1% in January.

After seven successive days of gains, the Canadian market turned a bit weak on Tuesday, but still managed a good recovery to eventually end the day's session with just a marginal loss.

The benchmark S&P/TSX Composite Index, which climbed to 20,361.26 in early trades, fell to 20,203.25 a little past noon, but recovered to finally end the session at 20,203.25, down just 2.52 points from the previous close.

Asian stocks ended mixed on Wednesday in thin trading, with the mainland China and Hong Kong markets closed for a holiday.

Amid rising worries over inflation and growth, investors kept a close eye on oil price movements and awaited key U.S. data due this week for additional clues on the growth and interest rate outlook.

European stocks are weak as higher oil prices and weak U.S. data rekindle recession worries.

In commodities, West Texas Intermediate Crude oil futures are down $0.14 or 0.17% at $80.57 a barrel.

Gold futures are up $2.00 or 0.1% at $2,040.20 an ounce, while Silver futures are down $0.206 or 0.82% at $24.895 an ounce.

European Shares Set For Firm Open Ahead Of Fed Verdict

European stocks are seen opening a tad higher on Wednesday ahead of the U.S. Federal Reserve's interest-rate decision later in the day, with markets pricing in a 92.4 percent chance of a 25-bps rate hike in response to a recent hot inflation report.

RTTNews | 1h 5min ago

Indian Shares Modestly Higher In Cautious Trade

Indian shares were modestly higher on Wednesday after falling sharply in the previous session on concerns over rising oil and U.S. bond yields amid escalating Middle East tensions.

RTTNews | 2h 0min ago

Australian Market Slightly Trims Early Gains In Mid-market

The Australian stock market is slightly trimming its early gains in mid-market moves on Wednesday, reversing some of the losses in the previous session, with the benchmark S&P/ASX 200 moving well above the 8,650 level, despite the broadly negative cues from Wall Street overnight, with gains in energy and financial stocks partially offset by weakness in technology stocks.

RTTNews | 3h 15min ago

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Wednesday, despite the broadly negative cues from Wall Street overnight, as traders are cautious and seemed reluctant to make more significant moves ahead of the US Fed's monetary policy decision later in the day. Some traders are looking to pick stocks at a bargain following the recent slump in the markets. Asian markets closed mostly lower on Tuesday.

RTTNews | 3h 31min ago

Indian Shares Seen Flat To Higher At Open

Indian shares may see a fragile, tentative recovery at the open on Wednesday following the previous session's sell-off.

RTTNews | 4h 1min ago

Continued Consolidation Called For Thai Stock Market

The Thai stock market has moved lower in five straight sessions, retreating more than 40 points or 2.7 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,580-point plateau and it's expected to spin its wheels again on Wednesday.

RTTNews | 4h 39min ago

Lower Open Expected For Indonesia Bourse

The Indonesia stock market has finished lower in five straight sessions, sinking more than 225 points or 3.4 percent along the way. The Jakarta Composite Index now sits just above the 6,460-point plateau and it's looking at another soft start again on Wednesday.

RTTNews | 5h 9min ago

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Wednesday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling to near the 63,350 level, with weakness index heavyweights partially offset by gains in automakers and financial stocks.

RTTNews | 5h 10min ago

EURUSD	1.15469	GBPUSD	1.34785
USDJPY	155.115	USDCAD	1.39336