Canada stocks-resource shares lift Toronto index higher
Canada’s main stock index rose on Monday as higher commodity prices bolstered the energy and materials sectors, although concerns around rising U.S. bond yields kept sentiment in check. At 9:39 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was up 54.39 points, or 0.25 percent, at 21,910.09. Meanwhile, U.S. stocks inched lower at open as Treasury yields continued to rise on expectations of a tighter monetary policy. The energy sector was up 1.2 percent, supported by higher oil prices as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on. The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.1 percent as gold prices jumped to a more than one-month high over the economic fallout from the Russia-Ukraine war and surging inflation.
Sensex jumps 150 pts
Indian indices witnessed a choppy early session as Sensex and Nifty traded flat on Tuesday. A cut by World Bank in global growth expectations and weak economic numbers reported by China for March spooked US investors as indices on Wall Street declined on Monday. Rising inflation, Russia-Ukraine war, and high crude oil prices continue to remain headwinds for global investors. The inflation worries have raised expectations of tightening of monetary policy by US Fed. Indian Indices on Monday fell sharply for the fourth straight session as stocks of Infosys and HDFC twins crashed following lower-than-expected financial results. Shares of Tata Power continued to extend decline with the stock down about 12 percent in the last five trading sessions. Analysts believe that the sharp rally in the multibagger stock, that is up over 169 percent in a year’s period, leaves limited room for upside.
Japan stocks lower at close of trade; Nikkei 225 down 1.08pc
Japan stocks were lower after the close on Monday, as losses in the Precision Instruments, Electrical/Machinery and Transport sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 1.08 percent. The best performers of the session on the Nikkei 225 were Credit Saison Co., Ltd., which rose 20.72 percent or 277.00 points to trade at 1,614.00 at the close. Meanwhile, Sumitomo Osaka Cement Co., Ltd. added 3.67 percent or 115.00 points to end at 3,250.00 and J.Front Retailing Co., Ltd. was up 3.43 percent or 32.00 points to 965.00 in late trade. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2523 to 991 and 245 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 4.21 percent to 20.81. Crude oil for June delivery was down 0.39 percent or 0.41 to $105.97 a barrel.
Asian stocks in defensive mood as China slowdown, rate hikes loom
Asian shares traded cautiously on Tuesday, with China’s economic slowdown from COVID-19 lockdowns and the prospect of aggressive Federal Reserve monetary policy tightening keeping markets on edge. Investors were also bracing for a barrage of earnings that will help them assess the impact of the Ukraine war and a spike in inflation on company financials. Netflix, Tesla and Johnson & Johnson are all to report this week. European markets were set for a lower open with the pan-region Euro Stoxx 50 futures losing 0.66 percent, German DAX futures falling 0.69 percent and FTSE futures down 0.01 percent. U.S. stock futures, the S&P 500 e-minis , were up 0.31 percent.
U.S. shares lower at close of trade; Dow Jones industrial average down 0.11pc
U.S. equities were lower at the close on Monday, as losses in the Healthcare, Telecoms and Consumer Services sectors propelled shares lower. At the close in NYSE, the Dow Jones Industrial Average lost 0.11 percent, while the S&P 500 index fell 0.02 percent, and the NASDAQ Composite index declined 0.14 percent. The biggest gainers of the session on the Dow Jones Industrial Average were Goldman Sachs Group Inc, which rose 2.56 percent or 8.24 points to trade at 329.88 at the close. Intel Corporation added 2.12 percent or 0.97 points to end at 46.64 and JPMorgan Chase & Co was up 1.86 percent or 2.34 points to 128.46 in late trade. Biggest losers included Walt Disney Company, which lost 2.07 percent or 2.70 points to trade at 127.77 in late trade. Honeywell International Inc declined 1.60 percent or 3.12 points to end at 192.07 and Home Depot Inc shed 1.42 percent or 4.31 points to 300.21. The top performers on the NASDAQ Composite were Casa Systems Inc which rose 82.52 percent to 7.10, Frequency Therapeutics Inc which was up 30.82 percent to settle at 1.91 and Natus Medical Incorporated which gained 28.64 percent to close at 33.51. Declining stocks outnumbered rising ones by 2005 to 1214 and 120 ended unchanged; on the Nasdaq Stock Exchange, 2596 fell and 1299 advanced, while 196 ended unchanged on the New York Stock Exchange.
Gulf bourses mixed, Saudi Arabia and Egypt gain
Dubai and Abu Dhabi markets ended lower on Monday, while Saudi Arabia and Egypt edged up, and crude prices slipped over worries of slowing demand in China. US stock index futures dipped as Treasury yields continued to rise on expectations of a tighter monetary policy, and most Asian and European markets were closed due to an extended holiday-weekend. Saudi Arabia’s benchmark index ended higher at 0.4 percent, helped by gains in financials and healthcare stocks. Shares of Sulaiman Alhabib gained 4.8 percent as the company is set to begin trading ex-dividend on Tuesday. Egypt’s main share index ended 0.2 percent higher, helped by materials stocks. EFG Hermes declined 4.5 percent and was the top drag on the index. Shares of Alexandria Mineral Oils gained 8.8 percent, set for their best day in nearly a month, after the firm reported a rise in net profit for the nine-month period. Dubai’s main share index ended lower at 0.4 percent, snapping a streak of three-day gains, while Abu Dhabi’s index ended down 0.3 percent. Qatar’s benchmark index fell 0.5 percent, extending losses for the third consecutive session.