DIRS.INFO The most relevant business & tech news

☆ TSX inches higher as Bank of Canada keeps interest rates on hold
▼ + stars: | 2023-03-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies TC Energy falls after U.S. regulator seeks corrective actionsTSX rises 0.5%March 8 (Reuters) - Canada's main stock index edged higher on Wednesday, helped by gains in commodity-linked stocks and the banking sector after the Bank of Canada (BoC) kept interest rates on hold as expected. ET (1515 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 99.07 points, or 0.49%, at 20,374.61. The energy sector (.SPTTEN) gained 1.1%, while materials (.GSPTTMT) rose 1.5%. Miners, energy firms and financial stocks comprise nearly 60% of the TSX index. Among stocks, TC Energy (TRP.TO) fell 0.2% as the U.S. pipeline regulator said the oil services provider would be required to reduce operating pressure on its Keystone pipeline that spilled oil in rural Kansas in December.

☆ TSX slides as investors brace for more Fed rate hikes
▼ + stars: | 2023-03-07 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

"We are seeing a pullback in risk assets as people start to discount the Fed keeping rates higher for longer," said Joseph Abramson, co-chief investment officer at Northland Wealth Management. The TSX has a 30% weighting in commodity-linked shares. The energy sector fell nearly 2% on Tuesday as oil settled 3.6% lower at $77.58 a barrel, while materials, which includes precious and base metals miners and fertilizer companies, was down 2.9%. Thomson Reuters Corp (TRI.TO) shares were a bright spot, rising 1.2%. Reporting by Fergal Smith; Additional reporting by Johann M Cherian in Bengaluru; Editing by Anil D'Silva and Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

☆ TSX dragged lower by weakness in energy stocks, miners
▼ + stars: | 2023-03-07 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (15:23 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 147.61 points, or 0.72%, at 20,367.19. Energy shares (.SPTTEN) fell 0.7% and materials (.GSPTTMT) shed 2%, tracking commodity prices lower, after China's weak trade data followed its modest annual growth target on Monday. Although the TSX waded through losses during a volatile February, the bourse is eyeing gains of 6% for the current quarter. The tech sector (.SPTTTK) slipped 0.7, dragged down by an 11.6% drop in BlackBerry Inc (BB.TO) after the software firm's lower-than-expected annual sales forecast. Reporting by Johann M Cherian in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Commodity stocks weigh on TSX; Ritchie Brothers rise
▼ + stars: | 2023-03-06 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

Ritchie Brothers Auctioneers Inc's shares (RBA.TO) rose 3.1% as two leading proxy advisory firms recommended that shareholders vote against the asset management firm's planned takeover of U.S. auto retailer IAA Inc (IAA.N). ET (15:12 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 20.46 points, or 0.08%, at 20,602.04. The energy sector (.SPTTEN) and miners (.GSPTTMT) fell 0.9% each, tracking declines in commodity prices after China over the weekend set a lower-than-expected gross domestic product target of 5%. "The commodity stocks are weighing on the index because China is forecasting growth for the upcoming year not as high or as we would have anticipated," said Allan Small, senior investment advisor at Allan Small Financial Group. Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

"China was closed for months and just improving economic data gives buyers of commodity stocks confidence that those prices can hold, and as we know it is a good chunk of the TSX index," said Barry Schwartz, portfolio manager at Baskin Financial Services. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 244.37 points, or 1.2%, at 20,581.58, its highest closing level since Feb. 16. Wall Street also advanced as U.S. Treasury yields eased and economic data helped investors look past the growing likelihood that the Federal Reserve will keep its restrictive policy in place for longer than anticipated. Sleep Country Canada Holdings Inc (ZZZ.TO) was up 5.9% after the company's fourth-quarter sales and earnings beat estimates. Reporting by Johann M Cherian in Bengaluru; Editing by Shilpi Majumdar and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ TSX climbs as materials stocks gain on higher gold, copper prices
▼ + stars: | 2023-03-03 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

ET (1512 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 99.49 points, or 0.49%, at 20,436.7. The materials sector (.GSPTTMT) climbed 0.6%, tracking strength in copper and gold prices as strong economic data in top consumer China raised demand hopes. Following a volatile February, the TSX tracked weekly gains of 1.2%, its best performance in seven weeks. The index is on track to snap three straight weekly declines as strong economic data from China allayed fears of a global economic slowdown. Among stocks, Suncor Energy Inc (SU.TO) added 0.8% after Equinor (EQNR.OL) said it would acquire the British oil and gas business of the energy firm for $850 million.

☆ Materials push TSX higher as gold, copper prices climb
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: 1 min

March 3 (Reuters) - Canada's benchmark stock index extended gains on Friday, underpinned by strength in materials stocks, as a rise in commodity prices and hopes of a pause in monetary tightening by the Bank of Canada aided investor sentiment. At 9:37 a.m. ET (1437 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 72.95 points, or 0.36%, at 20,410.16. Reporting by Johann M Cherian in Bengaluru; editing by Uttaresh VenkateshwaranOur Standards: The Thomson Reuters Trust Principles.

☆ Toronto stocks seen up 6.2% by year-end, despite 'wall of worry'
▼ + stars: | 2023-02-22 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

"Equity markets have exhibited remarkable resilience, climbing a wall of worry toward higher common stock prices," said Brandon Michael, senior investment analyst at ABC Funds. "The main drivers toward higher stock prices include decelerating inflation, central banks easing up on their monetary policy tightening efforts, and improving investor risk appetite." Canada's annual rate of inflation cooled to 5.9% in January after peaking at 8.1% in June, data on Tuesday showed. The energy and materials sectors combined account for about 30% of the Toronto market's weighting. (Other stories from the Reuters Q1 global stock markets poll package:)Reporting by Fergal Smith; additional polling by Aditi Verma, Milounee Purohit and Mumal Rathore; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ These 6 global ETFs are the only ones to have posted gains every year for the past five years
▼ + stars: | 2023-01-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Only six global stock ETFs have consistently posted yearly gains over the past five years, according to new analysis by CNBC Pro . They are the only funds among 7,000 equities ETFs trading worldwide to: Not have a single year of negative returns between Jan. 1, 2018, and Dec. 31, 2022; And be in positive territory this year so far. The six ETFs listed above also had positive returns during 2022 and 2018 when global markets fell. The iShares S & P/TSX Capped Consumer Staples Index ETF (ticker XST) was the only fund of almost 7,000 equities ETFs worldwide screened not to have a single year of negative returns over the past decade. The ETF, traded on the Toronto Stock Exchange, has offered investors a 14% compound annual growth rate over the same period — significantly higher than broader index-tracking fund.

☆ TSX ends lower for second day as industrials slide
▼ + stars: | 2023-01-25 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 29.95 points, or 0.2%, at 20,599.60, adding to a small decline on Tuesday. "We expect them to be on pause for quite a while," said Tom O'Gorman, director of fixed income at Franklin Templeton Canada. Industrials fell 2.1%, with Canadian National Railway Co (CNR.TO) down 4.7% after the company forecast lower 2023 earnings. U.S. crude oil futures settled 2 cents higher at $80.15 a barrel after a smaller than expected build in U.S. crude inventories. Shopify Inc (SHOP.TO) was a bright spot, rising nearly 11% after the e-commerce company updated its pricing plan.

☆ Toronto market ends slightly down as Magna slides
▼ + stars: | 2023-01-24 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 2.03 points at 20,629.55, after posting on Monday its highest closing level in more than seven months. The U.S. benchmark index S&P 500 also ended slightly lower. "The issue for 2023 is going to be watching the lagged effects of the interest rate hikes that occurred last year," said Brian Madden, chief investment officer at First Avenue Investment Counsel in Toronto. Investors worry that aggressive interest rate hikes could trigger a recession, with data on Tuesday showing that U.S. business activity contracted for the seventh consecutive month in January. The Bank of Canada will hike its key interest rate by a quarter of a percentage point to 4.5% on Wednesday and then hit pause on its tightening campaign, a Reuters poll of economists showed.

☆ Energy, consumer weigh on Toronto stocks ahead of BoC decision
▼ + stars: | 2023-01-24 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Canada's main stock index fell on Tuesday, as energy and consumer discretionary stocks dragged the index lower ahead of the Bank of Canada's interest rate decision on Wednesday, while data showed U.S. business activity contracted. ET (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 68.95 points, or 0.33%, at 20,562.63. Commodity-linked stocks took a dive, with both energy (.SPTTEN) and materials (.GSPTTMT) down 0.7% and 0.6%, respectively, as commodity prices slipped. Looking ahead, another interest rate hike by the Bank of Canada (BoC) is looming large, with traders leaning towards a 25-basis-point hike on Wednesday. The BoC had hiked its overnight lending rate all through 2022, with the current rate sitting at an over 16-year high.

ET (1505 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 38.76 points, or 0.19%, at 20,398.86 - a six-week high. Investors will focus on December inflation data due on Tuesday, with economists polled by Reuters forecasting a 6.4% rise on an annual basis. "We're going to have the CPI report, so that'll be crucial, giving us an indication how the fight against inflation is going," said Allan Small, senior investment advisor at Allan Small Financial Group. The energy sector (.SPTTEN), financial (.SPTTFS) and technology stocks (.SPTTTK) gained between 0.2% and 0.4%. Investment management company Colliers International Group (CIGI.TO) gained 3.3% after Scotiabank upgraded the stock to "outperform".

☆ This global ETF is the only fund that's posted gains every year for the past decade
▼ + stars: | 2023-01-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

An ETF tracking Canadian consumer stocks is the only major fund to have had a positive return every year over the past decade, data shows. The Canadian-dollar-based fund beat the SPDR S & P 500 ETF (SPY) by 59 percentage points in total returns over the past decade. It also outperformed the Canada-focussed iShares Core S & P/TSX Capped Composite Index ETF (XIC) by about 125 percentage points over the same period. The Canadian consumer staples ETF has risen by 2% this year to 85.9 Canadian dollars ($64.15) a share. Unlike the larger index funds, the iShares S & P/TSX Capped Consumer Staples Index ETF includes just 11 stocks, with a significant weighting toward the food retail and packaged foods sectors.

☆ TSX hits 4-week high as investors eye 'beaten-down' sectors
▼ + stars: | 2023-01-09 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 42.56 points, or 0.2%, at 19,857.07, its highest closing level since Dec. 14. "Market moves on a day-to-day basis are very much being dictated by the inflation picture and central bank actions. That has not changed (from 2022)," said Elvis Picardo, portfolio manager at Luft Financial, iA Private Wealth. It was up nearly 1% on Monday, while energy gained 0.6% as oil settled 1.2% higher at $74.63 a barrel. Oil rose after China reopened its borders, boosting the outlook for fuel demand.

ET (1513 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 128.88 points, or 0.65%, at 19,943.39, nearing four-week levels. Global markets extended gains as investors scaled back bets of aggressive Fed rate hikes after U.S. jobs data last week raised hopes that the wage-inflation spiral was showing signs of slowing. "People are speculating that the demand for resources could bounce back with China's reopening and so that's been helping crude oil, that's been helping copper, and a lot of the commodity markets." The materials group (.GSPTTMT), which includes precious and base metals miners and fertilizer companies, rose 0.4%. Reporting by Shristi Achar A and Johann M Cherian in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ TSX futures edge higher as investors eye China reopening
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

Dec 28 (Reuters) - Futures for Canada's main stock index edged up on Wednesday as investors returned from a long holiday weekend to global optimism over China moving towards reopening its economy. Futures on the S&P/TSX index were up 0.2% at 6:53 a.m. On the flip side, concerns remained that rising COVID cases could disrupt its economic recovery, pushing down prices of oil , . Copper prices hit two-week peak, while gold eased from the six-month high hit in the previous session as the dollar regained strength. Canadian equity markets will resume trading for the first time this week, following Christmas and Boxing Day holidays.

☆ TSX hits 5-week low as Fed's hawkish stance fuels recession worries
▼ + stars: | 2022-12-15 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 291.02 points, or 1.5%, at 19,600.63, its lowest closing level since Nov. 9. Hopes that the U.S. central bank would soften its stance had helped lift equity markets off their lows from October. Higher interest rates reduce the value to investors of the future cash flows that companies in that sector are expected to produce. Reporting by Fergal Smith; additional reporting by Shashwat Chauhan in Bengaluru; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ TSX dragged to over one-month low by tech, commodity-linked stocks
▼ + stars: | 2022-12-15 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1513 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 295.24 points, or 1.48%, at 19,596.41. All sectors declined, led by materials (.GSPTTMT), which sank 2.2% to an about two-week low as gold prices toppled against a stronger dollar. Meanwhile, Canadian housing starts edged lower in November compared with the previous month as a drop in single-detached urban starts offset groundbreaking in multiple unit urban homes, data from the national housing agency showed on Thursday. Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil D'Silva and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ TSX futures steady as oil prices recover, Fed worries cap gains
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - Futures for Canada's resources-heavy main stock index rose on Thursday as oil prices recouped early losses, while a sharp drop in gold kept gains in check after hawkish Federal Reserve commentary. Futures on the S&P/TSX index were up 0.1% at 6:34 a.m. ET (1134 GMT), while their U.S. peers fell after the Fed on Wednesday raised interest rates as expected but said it would keep hiking them further. Fed Chair Jerome Powell on Wednesday said interest rate hikes would persist next year even as the U.S. economy faces the threat of a recession, sparking a selloff on Wall Street and also knocking down Canada shares (.GSPTSE). In a bright spot, oil prices steadied after early declines as the dollar firmed, while likely increases in interest rates by central banks also heightened demand concerns.

☆ Miners, financials drag TSX index to three-week low
▼ + stars: | 2022-12-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1524 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 25.74 points, or 0.13%, at 19,921.33. The materials sector (.GSPTTMT), which includes miners of precious and base metals, shed 0.7% as gold prices trickled lower. The U.S. central bank is expected to deliver a half-percentage-point rate hike, along with The European Central Bank and the Bank of England, who are expected to raise their lending rates later in the week. Including Monday's trading, the TSX is down 6% year-to-date, outperforming the U.S. benchmark S&P 500 index (.SPX), which has lost more than 17% this year.

☆ TSX futures tepid with focus on key cenbank decisions
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

Dec 12 (Reuters) - Futures for Canada's main stock index were flat on Monday, with investors on the sidelines as they brace for a week of key interest rate decisions from major central banks, including the U.S. Federal Reserve. The latest U.S. inflation reading will be the final pit-stop before the Fed's interest rate decision on Wednesday, where the central bank is expected to deliver a half-percentage-point rate hike. The European Central Bank and the Bank of England are also expected to raise rates by 50 basis points this week. Markets are now gripped with concerns that interest rates would stay higher for longer, possibly tipping the economy into a recession. ($1 = 1.3660 Canadian dollars)Reporting by Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ TSX posts biggest weekly decline since September as oil tumbles
▼ + stars: | 2022-12-09 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 22.12 points, or 0.1%, at 19,947.07, its lowest closing level since Nov. 17. For the week, the index was down 2.6%, its biggest weekly decline since September. The Toronto market's energy sector fell 0.7% as U.S. crude oil futures settled 0.6% lower at $71.02 a barrel. Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Oil companies are facing faltering prices and Canadian firms are also absorbing an unusually punishing discount for their heavy-grade crude. Net debt represents a company's gross debt minus cash and cash-like assets. It faced an existential threat in 2020 when the COVID-19 pandemic crushed oil prices. Canadian producers also absorb a $29 per barrel discount due to distance from U.S. refineries and lower heavy oil demand. If oil prices dip below $65, companies may tighten spending but opt to reduce capital budgets before shareholder returns, Bushell said.

☆ Commodity-linked stocks push TSX to fresh two-week highs
▼ + stars: | 2022-12-08 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. ET (1540 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 66.9 points, or 0.33%, at 20,040.12. The materials sector (.GSPTTMT), which includes miners of precious and base metals, climbed 0.8% on higher metal prices. "Given the magnitude of the rate hikes, they want some time to evaluate how that's going to impact the economy." Among single stocks, Parkland Corp (PKI.TO) gained 5.9% after the food and fuel retailer posted its 2023 outlook.

Search resuls for: "TSX"

25 mentions found