Canadian Stocks Surge Higher Again; TSX Scales New Record High

RTTNews | 411 days ago

(RTTNews) - Canadian stocks are up firmly in positive territory on Wednesday, and the benchmark S&P/TSX Composite Index stays high up after hitting a fresh record. Rising optimism about a rate cut by the Federal Reserve in September, firm oil prices and some upbeat corporate earnings announcements are contributing to the positive mood in the market.

The S&P/TSX Composite Index, which climbed to 27,955.55 earlier in the session, was up 333.77 points or 1.21% at 27,903.85 about half an hour past noon.

The Information Technology Capped Index is up nearly 5%. Shopify Inc. shares are soaring nearly 20% on buoyant results.

Shopify Inc. reported second quarter net income of $906 million, up sharply compared to $171 million last year. For the third quarter, the company expects revenue to grow at a mid-to-high twenties percentage rate, and gross profit to grow at a low-twenties percentage rate, both on a year-over-year basis.

Open Text Corporation, Bitfarms and Sangoma Technologies are gaining 1.2 to 1.5%.

Suncor Energy reported net earnings of $1,134 million for the second quarter of 2025, compared with net earnings of $1,568 million in the year-ago quarter. Adjusted EPS came in at $0.71 for the latest quarter, compared to $1.27 in the year-ago quarter. The stock is up by about 0.7%.

Great West Lifeco is gaining more than 2.5% on higher earnings. The company reported EPS of $1.24 for the second quarter, up from $1.11 a year ago.

SSR Mining Inc shares are up as much as 17%, on upbeat results. The company reported net income of $80.4 million for the second quarter of 2025, up sharply compared with net income of $2.46 million in the year-ago quarter.

Data from S&P Global said that its Canada Composite PMI rose to 48.7 in July from 44.0 in June, although still marking the eighth consecutive monthly contraction in private sector activity.

The Manufacturing PMI came in at 46.1 for July, up from 45.6 in June, while the Services PMI score jumped to 49.3 from 44.3%.

Indian Shares Modestly Higher; IT Stocks Slip On AI Disruption Concerns

Indian shares were modestly higher in cautious trade on Tuesday, with underlying sentiment supported somewhat by falling crude oil prices in international markets amid hopes for diplomatic efforts to end the U.S.-Iran war and signs of recovering Saudi oil exports.

RTTNews | 28 minutes ago

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, but extending the slight gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is moving up to near the 8,750 level, with gains in mining and technology stocks partially offset by weakness in energy and financial stocks.

RTTNews | 1h 43min ago

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as easing crude oil prices allayed concerns about global inflation and the corresponding outlook for interest rates. Markets were also boosted by technology stocks which mirrored their peers on tech-heavy NASDAQ amid renewed optimism about outlook for large AI hyperscalers.

RTTNews | 2h 5min ago

Indian Shares Likely To Open On Firm Note; Tech Stocks In Focus

Indian shares are seen opening higher on Tuesday, tracking firm cues from global markets as investors keep an eye on the latest developments in the Middle East and await the outcome of the Trump-Xi meeting in Washington on Thursday, with trade, AI and geopolitics dominating the agenda.

RTTNews | 2h 34min ago

Thai Stock Market Likely To Open To The Upside

The Thai stock market has moved higher in three straight sessions, collecting more than 35 points or 2.3 percent in that span. The Stock Exchange of Thailand now sits just beneath the 1,600-point plateau and it's expected to tick higher again on Tuesday.

RTTNews | 3h 8min ago

Indonesia Stock Market Due For Support On Tuesday

The Indonesia stock market has finished lower in two straight sessions, surrendering almost 80 points or 1.3 percent in that span. The Jakarta Composite Index now sits just above the 6,380-point plateau although it may stop the bleeding on Tuesday.

RTTNews | 3h 38min ago

Australian Markets Modestly Higher

The Australian stock market is modestly higher on Tuesday, extending the slight gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is moving up to near the 8,750 level, with gains in mining and technology stocks partially offset by weakness in energy and financial stocks.

RTTNews | 3h 45min ago

Higher Open Called For Hong Kong Stock Market

The Hong Kong stock market has climbed higher in back-to-back sessions, improving more than 430 points or 1.7 percent in that span. The Hang Seng Index now sits just above the 25,040-point plateau and it's poised to open in the green again on Tuesday.

RTTNews | 3h 53min ago

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