Canadian Market Up Slightly After Hitting New Record High

RTTNews | 726 hari yang lalu

(RTTNews) - Energy and materials shares are turning in a fine performance in the Canadian market, which is trading slightly up Thursday afternoon. The upside is limited as data showing a bigger than expected increase in U.S. consumer prices in the month of September has dimmed the possibility of another aggressive interest rate cut by the Federal Reserve.

The benchmark S&P/TSX Composite Index, which climbed to a new record high of 24,303.09 earlier in the session, was up 18.94 points or 0.08% at 24,243.84 a little while ago.

The Energy Capped Index is up 2.3% as oil prices climbed higher amid concerns over supply disruptions due to the impact of Hurricane Milton, and tensions in the Middle East. Kelt Exploration (KEL.TO), Arc Resources (ARX.TO), Athabasca Oil Corp (ATH.TO), Headwater Exploration (HWX.TO), Suncor Energy (SU.TO), Whitecap Resources (WCP.TO), Imperial Oil (IMO.TO), MEG Energy (MEG.TO) and Tourmaline Oil Corp (TOU.TO) are gaining 2.5 to 4%.

In the materials sector, K92 Mining Inc (KNT.TO) is soaring nearly 13%. Torex Gold Resources (TXG.TO), Iamgold Corp (IMG.TO), Calibre Mining Corp (CXB.TO) and Orla Mining (OLA.TO) are up 6.5 to 8%. Aya Gold & Silver (AYA.TO), Pan American Silver Corp (PAAS.TO), First Majestic Silver Corp (AG.TO), MAG Silver Corp (MAG.TO), Kinross Gold (K.TO) and Ssr Mining (SSRM.TO) are gaining 4 to 6%.

Boralex Inc. (BLX.TO) announced that it has acquired the yet to be constructed Sallachy Wind Farm project from German wind developer WKN, a subsidiary of the PNE Group. Boralex shares are down by about 0.4%.

Data from the Labor Department showed that its consumer price index rose by 0.2% in September, matching the increase seen in August. Economists had expected consumer prices to inch up by 0.1%.

The report also said core consumer prices, which exclude food and energy prices, climbed by 0.3% for the second consecutive month. Core prices were expected to rise by 0.2%.

Meanwhile, the Labor Department said the annual rate of consumer price growth slowed to 2.4% in September from 2.5% in August. Economists had expected the pace of price growth to slow to 2.3%. The annual rate of core consumer price growth accelerated to 3.3% in September from 3.2% in August, while economists had expected the pace of growth to remain unchanged.

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EURUSD	1.12591	GBPUSD	1.32756
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