Plus   Neg

Canadian Stocks Likely Open On Mixed Note

Canadian shares look headed for a mixed start on Wednesday as investors, looking for trade related news and the progress in Brexit talks, are very likely to make cautious moves.

Canadian inflation data for the month of September is likely to make a significant impact in early trades.

On Tuesday, the benchmark S&P/TSX Composite Index, which touched a high of 16,510.65 around mid morning, ended up 3.23 points, or 0.02%, at 16,418.39, close to the day's low.

Hexo Corp. (HEXO.TO) said it is moving to undercut prices in the illicit market with a new 28-gram product that costs consumers as much as one dollar less per gram than at the average illegal dispensary.

The product, under the brand Original Stash, will be on sale in Quebec cannabis stores starting Thursday for $125.70, or $4.49 per gram, including taxes, the company said. That's much cheaper than the average cost of a gram of cannabis at $7.37 per gram during the third quarter.

B2Gold Corp. (BTO.TO) announced on Tuesday that it has completed the sale of El Limon and La Libertad Gold Mines, the Pavon Gold Project and additional mineral concessions in Nicaragua to Calibre Mining Corp. for aggregate consideration of US$100 million.

Asian markets ended mostly higher on Wednesday, buoyed by some strong earnings reports from a few big-name U.S. companies and on expectations Britain still has a chance of avoiding a messy exit from the European Union.

European markets were somewhat sluggish with investors largely making cautious moves as they look ahead to the outcome of Brexit negotiations. According to reports, British Prime Minister Boris Johnson might write a letter to Brussels asking for a delay if no deal is approved by Saturday.

In economic news from Europe, data from Eurostat showed Eurozone inflation slowed to 0.8% in September, the lowest level since November 2016, from 1% in August. Price growth was initially estimated at 0.9%.

Another data from Eurostat showed the euro area trade surplus rose to a seasonally adjusted EUR 20.3 billion in August from EUR 17.5 billion in July. Exports were up 0.4%, while imports declined 1.2% in the month.

In the U.K., consumer prices advanced 1.7% year-on-year in September, the same pace of growth as seen in August, according to a report from the Office for National Statistics.

In commodities, crude oil futures for November were up $0.23, or 0.43%, at $53.04 a barrel.

Gold futures for December were edging up $1.80, or 0.12%, at $1,485.30 an ounce.

Silver futures for December were down $0.109, or 0.63%, at 17.275, while Copper futures for December were declining $0.0350, or 1.35%, at $2.5790 per pound.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT