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Bay Street Likely To Open Higher

Canadian shares are likely to open higher on Friday, tracking positive cues from global markets. Higher crude oil prices and news indicating signs of some warn relations between the U.S. and China may also help lift sentiment.

Employment data for the month of August is likely to make a significant impact on market's movements today.

The Canadian ended weak on Thursday, extending losses to a third straight session, as investors stayed wary of picking up stocks amid worries about a slowdown in global economic recovery due to rising coronavirus cases. The S&P/TSX Composite Index ended with a loss of 36.52 points or 0.18% at 20,705.27.

Roots Corporation (ROOT.TO) reported adjusted net loss of $0.01 per share in the second quarter of this financial year, after posting adjusted net loss of $0.04 per share in the year-ago quarter.

Enghouse Systems Limited (ENGH.TO) reported adjusted net income of $21.2 million for the third-quarter, compared to $26.0 million in the year-ago quarter.

Asian stocks ended mostly higher on Friday, as easing concerns about U.S.-China tensions and clarifications that Chinese regulatory crackdown on gaming companies were not as harsh as originally reported, lifted sentiment in the region.

European markets are higher Friday afternoon amid optimism global economic recovery is on track despite the surge in coronavirus cases in several countries. Expectations that central banks will continue to support growth with their stimulus measures help underpin sentiment.

In commodities, West Texas Intermediate Crude oil futures for October are up $1.39 or 2.05% at $69.53 a barrel.

Gold futures are flat at $1,800.10 an ounce, while Silver futures are down slightly at $24.170 an ounce.

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