(RTTNews) – Canadian shares are prone to open on a combined observe on Friday with buyers reacting to the nation’s GDP knowledge, and treading cautiously forward of the February 1 deadline for the imposition of commerce duties on Canada.
Information from Statistics Canada confirmed Canadian actual gross home product decreased 0.2% in November. Based on preliminary estimates, the financial system rebounded in December and GDP possible grew 0.2%.
In earnings information, Imperial Oil Ltd. (IMO.TO) reported that fourth-quarter web revenue declined to C$1.23 billion or C$2.37 per share from C$1.37 billion or C$2.47 per share within the prior-year quarter. Complete revenues and different revenue for the quarter decreased to C$12.61 billion from C$13.11 billion in the identical quarter final 12 months.
Analysts polled anticipated the corporate to report earnings of C$2.18 per share on revenues of C$13.21 billion for the quarter.
The Canadian market climbed to a file excessive on Thursday, lifted by robust positive aspects in expertise and supplies sectors. Whereas encouraging earnings from a couple of massive identify U.S. tech corporations triggered heavy shopping for within the tech house, agency steel costs pushed up supplies shares.
Healthcare, utilities, actual property and industrials shares have been the opposite main gainers.
Traders digested U.S. and European financial knowledge, and the European Central Financial institution’s financial coverage announcement.
The benchmark S&P/TSX Composite Index ended with a strong achieve of 334.95 factors or 1.31% at 25,808.25. The index scaled a recent file excessive of 25,875.61 within the session.
Most Asian markets rose on Friday following encouraging earnings updates from Apple and Intel. Seoul shares underperformed amid a sell-off in tech shares on issues over China’s rising AI capabilities.
The key European markets are up in optimistic territory, reacting to some encouraging earnings information, and on optimism about extra financial easing by central banks.
In commodities, West Texas Intermediate Crude oil futures are up $0.23 or about 0.32% at $72.96 a barrel.
Gold futures are flat at $2,854.20 an oz, whereas Silver futures are gaining $0.177 or 0.54% at $32.670 an oz.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
