logo
Plus   Neg
Share
Email

Bay Street Likely To Open On Cautious Note

The Canadian stock market is likely to open on cautious note, with a slightly negative bias on Tuesday, with investors looking ahead to some key earnings reports and economic data.

On Monday, the benchmark S&P/TSX Composite Index ended up 22.70 points, or 0.14%, at 16,510.82, after scaling a low of 16,474.86 and a high of 16,524.51 in the session.

In company news, MTY Food Group Inc. (MTY.TO) announced today that pursuant to the announcement made on June 6, 2019, one of its wholly-owned subsidiaries has acquired the assets of Yuzu Sushi, a fast-growing chain of sushi restaurants.

Canadian Pacific Railway Limited (CP.TO) today declared a quarterly dividend of $0.83 per share on the outstanding Common Shares. The dividend is payable on October 28, 2019 to holders of record at the close of business on September 27, 2019, the company said.

Asian markets turned in a mixed performance on Tuesday as investors looked ahead to earnings results from top U.S. companies as well as some crucial economic data.

European stocks were broadly steady with investors awaiting the latest developments on the Sino-U.S. trade front and looking forward to key economic data out of the U.S. for directional clues.

In economic releases, Germany's economic confidence weakened to an eight-month low in July, survey data from the ZEW-Leibniz Centre for European Economic Research showed.

The economic confidence index declined to -24.5 in July from -21.1 in June. This was the lowest score since November 2018. The expected reading was -22.

In commodities, crude oil futures for August were flat at $5959 a barrel, after moving between $59.18 and $59.87.

Gold futures for August were gaining $3.30, or 0.23%, at $1,416.80 an ounce.

Silver futures for September were rising $0.120, or 0.78%, at $15.485 an ounce, while Copper futures for September were up $0.0020, or 0.07%, at $2.7130 per pound.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT