TSX Ends On Buoyant Note On Positive Global Cues

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(RTTNews) - Canadian stocks ended on a buoyant note on Wednesday thanks to sustained buying at several counters right through the day's session.

Firm crude oil prices, a drop in Canadian consumer price inflation, and data showing a significant improvement in U.S. consumer confidence, contributed to the positive sentiment in the market.

The benchmark S&P/TSX Composite Index ended with a gain of 264.21 points or 1.37% at 19,571.10.

Energy, real estate, healthcare, consumer discretionary, materials, utilities shares posted strong gains. Several stocks from industrials and financials sectors too posted impressive gains.

Athabasca Oil Corporation (ATH.TO) climbed 6.2% on huge volumes. Baytex Energy (BTE.TO), Cenovus Energy (CVE.TO), Crescent Point Energy (CPG.TO), Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO) and Manulife Financial Corporation (MFC.TO) gained 2 to 4.5% on strong volumes.

Spin Master Corp (TOY.TO) surged 7.5%. Aritzia Inc (ATZ.TO) climbed 6.65% and Precision Drilling Corporation (PD.TO) gained 5.6%.

FirstService Corporation (FSV.TO), Methanex Corporation (MX.TO), Altus Group (AIF.TO), Premium Brands Holdings (PBH.TO), TFI International (TFII.TO), BRP Inc (DOO.TO) and Colliers International (CIGI.TO) gained 2.8 to 5%.

BlackBerry (BB.TO) shares plunged more than 9%. The company reported a net loss of $4 million in the three-month period ended November 30, 2022, as against a net income of $74 million in the corresponding quarter last year.

Data released by Statistics Canada showed Canada's annual inflation rate came in at 6.8% in November of 2022, easing slightly from the 6.9% in the prior month. On a monthly basis, Canadian consumer prices rose by 0.1% in November, slowing from a 0.7% gain in the prior month.

Core inflation rate in Canada held steady at 5.8% in November of 2022, the same as in October. Compared to the previous month, core consumer prices were flat.

U.S. Dollar Recovers After Jobs Data

The U.S. dollar rebounded against its major counterparts in the New York session on Friday, after the release of better-than-expected non farm payrolls report for April.

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Swiss Market Ends On Bright Note

The Switzerland market closed on a strong note on Friday, mirroring the trend in markets across Europe and elsewhere, as worries about trade tensions eased after China stated its willingness to hold talks with the U.S.

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European Stocks Close On Buoyant Note

European stocks closed higher on Friday, with the major markets in the region posting strong gains, amid easing concerns about U.S-China trade relations, and on upbeat U.S. non-farm payroll data.

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Canadian Market Up Firmly In Positive Territory

The Canadian market is up firmly in positive territory a little past noon on Friday, amid easing concerns about U.S.-China trade tensions following China expressing willingness to hold tariff talks with the United States. Data showing a much higher than expected increase in U.S. non-farm payroll growth in the month of April is also aiding sentiment.

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U.S. Factory Orders Spike Slightly Less Than Expected In March

The Commerce Department released a report on Friday showing a sharp increase by new orders for U.S. manufactured goods in the month of March. The report said factory orders spiked by 4.3 percent in March after rising by a downwardly revised 0.5 percent in February.

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U.S. Employment Jumps By 177,000 Jobs In April, Much More Than Expected

Job growth in the U.S. far exceeded economist estimates in the month of April, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 177,000 jobs in April compared to expectations for an increase of about 130,000 jobs.

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Eurozone Inflation Remains Stable At 2.2%

Euro area annual inflation remained stable in April near the European Central Bank's 2 percent target, but the trade tariff uncertainty clouds the outlook. The harmonized index of consumer prices grew 2.2 percent on a yearly basis in April, the same pace of increase as seen in March, flash data from Eurostat showed on Friday. Prices were expected to climb at a slower pace of 2.1 percent.

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Eurozone Manufacturing Activity Shrinks At Slower Pace

Euro area factory activity contracted at a slower pace in April as production grew at the fastest pace in more than three years, final data of the purchasing managers' survey by S&P Global showed Friday. The HCOB manufacturing Purchasing Managers' Index rose to a 32-month high of 49.0 in April from 48.6 in March. The score was also above the flash estimate of 48.7.

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EURUSD	1.13037	GBPUSD	1.32767	AUDUSD	0.64436
USDJPY	144.966	USDCAD	1.38103	USDCHF	0.8268

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TSX Ends On Buoyant Note On Positive Global Cues