Bay Street Seen Opening On Positive Note

RTTNews | 286 days ago

(RTTNews) - Canadian shares may open higher Tuesday morning, tracking positive global cues and strong earnings update from Scotiabank. Weak metal prices may weigh on materials stocks and limit market's upside.

Bank of Nova Scotia (BNS.TO) reported fourth quarter net income of $2,206 million, compared to $1,689 million in the year-ago quarter. Earnings per share rose to $1.65 in the fourth quarter of its current financial year, compared to $1.22 a year ago.

Royal Bank of Canada and National Bank of Canada are slated to report their earnings on Wednesday.

Toronto-Dominion Bank, Bank of Montreal and Canadian Imperial Bank of Commerce's results are due on Thursday, while Laurentian Bank will report its earnings on Friday.

Laurentian Bank of Canada (LB.TO) said today that it has agreed to sell its retail and SME banking businesses to National Bank of Canada. The move is part of an expanded execution of its 2024 Strategic Plan, aimed at focusing on commercial real estate lending, inventory and equipment financing, intermediary services and capital markets.

AltaGas Ltd. (ALA.TO) expects normalized EPS of $2.20-$2.45 for 2026, representing roughly 6% year-over-year growth, while normalized EBITDA is projected at $1.925 billion-$2.025 billion, up about 8% from 2025.

Canadian stocks closed lower on Monday as investors resorted to booking profits from record highs from Friday while refraining from making big moves ahead of the upcoming monetary policy meeting by the U.S. Federal Reserve.

The benchmark S&P/TSX Composite Index settled at 31,101.78, down by 281 points or 0.90%, retreating fro a new record closing high of 31,382.78.

Asian stocks ended mostly higher on Tuesday despite a sell-off in bitcoin and fears about a repeat of the yen carry trade unwinding.

The major European markets are up in positive territory, recovering from previous session's weakness, as expectations of rate cut by the Federal Reserve next week, and positive progress in Ukraine peace talks lift sentiment.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.08 or 0.13% at $59.40 a barrel.

Gold futures are down $58.10 or 1.36% at $4,216.70 an ounce, while Silver futures are down $1.447 or 2.44% at $57.695 an ounce.

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders remain concerned about the uncertainty in the Middle East conflict. Higher bond yields and soaring crude oil prices fueled global inflation concerns and indicated an imminent interest rate hike from the US Fed this week. Asian markets closed mostly lower on Monday.

RTTNews | 47 minutes ago

Indian Shares Seen Little Changed At Open

Indian shares are seen opening on a flat note on Tuesday as traders return to their desks after a long holiday weekend.

RTTNews | 1h 22min ago

Lower Open Expected For Thai Stock Market

The Thai stock market has moved lower in four straight sessions, retreating almost 30 points or 1.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,590-point plateau and it's expected to spin its wheels again on Tuesday.

RTTNews | 2h 4min ago

Indonesia Bourse May See Continued Consolidation On Tuesday

The Indonesia stock market has finished lower in four straight sessions, sinking more than 150 points or 2.3 percent along the way. The Jakarta Composite Index now sits just above the 6,530-point plateau and it's looking at another soft start again on Tuesday.

RTTNews | 2h 34min ago

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday, extending the losses in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling well below the 63,400 level, with weakness in automakers and financial stocks partially offset by gains in index heavyweights.

RTTNews | 2h 40min ago

Hang Seng May Hand Back Monday's Gains

The Hong Kong stock market on Monday halted the five-day losing streak in which it had given up more than 850 points or 3 percent. The Hang Seng Index now sits just shy of the 24,920-point plateau although it may head south again on Tuesday.

RTTNews | 2h 49min ago

Losing Streak May Continue For China Stock Market

The China stock market has moved lower in three straight sessions, slumping more than 65 points or 1.7 percent in that span. The Shanghai Composite Index now sits just above the 3,885-point plateau and it's tipped to open in the red again on Tuesday.

RTTNews | 3h 4min ago

Australian Markets Notably Lower

The Australian stock market is notably lower on Tuesday, reversing the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling below the 8,700 level, with weakness in miners, energy and financial stocks partially offset by gains in technology stocks.

RTTNews | 3h 12min ago

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