TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak

RTTNews | 28 minutes ago

(RTTNews) - The Canadian market moved up firmly in positive territory Friday afternoon, lifted by a sharp fall in oil prices following the International Energy Agency's downward revision in global oil demand forecast for the year, and prospects of Gulf foreign ministers securing support from their Iranian counterpart for an arrangement for a temporary arrangement for passage of shipping through the Strait of Hormuz.

Bargain hunting at some counters contributed as well to market's rise.

Technology stocks moved sharply higher, contributing significantly to market's rise. Real estate, materials, industrials and financials stocks were among the other notable gainers. Energy stocks declined on weak oil prices.

The benchmark S&P/TSX Composite Index, which ended weak for six straight sessions, was up 128.22 points or 0.36% at 35,634.50 a little while ago. The index rose to a high of 35,857.40 earlier in the day.

The Information Technology Capped Index climbed 3.5%. Tecsys soared 8.5%. Descartes Systems Group gained 6.5%

Firan Technology, Celestica, Kinaxis, Enghouse Systems, Shopify, Docebo, Lightspeed Commerce, Open Text Corporation, Blackberry, CGI and Computer Modelling moved up 1.5%-6%.

Real estate stocks Altus Group, Hr Real Estate, Colliers International Group, FirstService Corporation, Primaris REIT, Dream Industrial, Killam Apartment, Boardwalk Real Estate Investment and Choice Properties gained 1.5%-4%.

Materials stocks Wesdome Gold Mines, Ccl Industries, Torex Gold Resources, 5N Plus, Altius Minerals Corporation, Triple Flag Precious Metals and First Quantum Minerals moved up sharply.

In the financials sector, Sprott, Trisura Group, Igm Financial, Onex Corporation, TMX Group, Great-West Lifeco, EQB, Fairfax Financial Holdings and Power Corporation of Canada gained 1%-4%.

Industrials stock Boyd Group Services jumped 8%. Rb Global, Hammond Power Solutions, Cae Inc., Ats Corporation, Thomson Reuters, Gfl Environmental, Canadian Pacific Kansas City and Canadian National Railway gained 1.3%-4%.

Swiss Market Ends Modestly Higher

The Switzerland stock market closed modestly higher on Friday, in line with markets across Europe, as a sharp drop in oil prices helped lift sentiment.

RTTNews | 1h 2min ago

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.

RTTNews | 1h 25min ago

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.

RTTNews | 4h 46min ago

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair

RTTNews | 4h 55min ago

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.

RTTNews | 5h 35min ago

U.S. Consumer Prices Increase In Line With Estimates In August

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August.

RTTNews | 6h 37min ago

IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery

Canadian stocks may open with positive bias Friday as oil prices decline following the International Energy Agency's downward revision of global oil demand. Investors seek bargains after six consecutive days of losses. U.S. consumer price data could impact sentiment.

RTTNews | 6h 45min ago

Canadian Dollar Falls As Oil Prices Edge Lower

The Canadian dollar weakened against other major currencies in the European session on Friday, as the crude oil prices traded lower amid escalating U.S.-Iran tensions and concerns over prolonged disruption to global energy supplies.

RTTNews | 7h 1min ago

EURUSD	1.15961	GBPUSD	1.35258
USDJPY	153.739	USDCAD	1.38659