Higher TSX futures and crude oil prices, and steady European stocks point to a positive start Canadian shares on Friday. The focus will be on the U.S. Personal Consumption Expenditures (PCE) data. The PCE data is eyed for more clarity about the Federal Reserve\'s likely move in the upcoming policy meeting. In Canadian earnings news,...
Russia\'s central bank raised its benchmark rate by 200 basis points on Friday amid rising risks to inflation and slower domestic demand, and also kept the door open for further tightening. The board of directors, led by Governor Elvira Nabiullina, decided to lift the key rate to 18.00 percent from 16.00 percent. This was the...
While reporting financial results for the second quarter on Tuesday, 3M Co. (MMM) raised its adjusted earnings guidance for the full-year 2024, while maintaining total sales and organic sales growth outlook. For fiscal 2024, the company now projects adjusted earnings from continuing operations in a range of $7.00 to $7.30 per share, up from its...
While reporting financial results for the second quarter on Friday, Colgate-Palmolive Co. (CL) raised its adjusted earnings and organic sales growth guidance for the full-year 2024, while maintaining earnings and net sales growth outlook. For fiscal 2024, the company now projects earnings per share growth in double-digit percentage and adjusted earnings per share growth of...
China\'s central bank unexpectedly reduced the medium-term lending facility rate by 20 basis points for the first time since August, after cutting several benchmark lending rates on Monday. The People\'s Bank of China cut the rate on one-year medium-term lending facility to 2.3 percent from 2.5 percent on Thursday. The bank injected CNY 200 billion...
The Japanese yen strengthened against other major currencies in the Asian session on Thursday, as traders speculate that the Bank of Japan is likely to raise its interest rate in the monetary policy meeting due next week, to boost the currency. The markets suspect the strength of the currency is due to the Fx market...
Asian stocks plunged on Thursday as a disappointing start of the mega-cap U.S. earnings season prompted investors to pull back on the artificial-intelligence frenzy. A surprise rate cut in China also offered a reality check regarding the challenges facing the world\'s second-largest economy. The U.S. dollar plummeted against the yen ahead of a Bank of...
German stocks fell on Thursday to extend losses from the previous session as a global tech selloff intensified and a survey showed German business morale unexpectedly fell in July. The Ifo institute\'s business climate index sank to 87.0 in July from 88.6 in June amid increasing pessimism about the performance of Europe\'s largest economy. The...
Business advisory firm FTI Consulting, Inc. (FCN) reported Thursday that net income for the second quarter increased to $83.95 million or $2.34 per share from $62.40 million or $1.75 per share in the year-ago quarter. Revenues for the quarter grew 10 percent to $949.16 million from $864.59 million in the same quarter last year. On...
Falling crude oil and metal prices, and weak European markets point to a negative start for Canadian shares on Thursday. Investors will also be reacting to key economic data from the U.S., and a slew of earnings updates from Canadian and U.S. companies. Loblaw Companies Ltd. (L.TO) reported adjusted net earnings of $664 million for...