Economic news

TSX set to open lower on worries over European banking crisis

2023.03.24 09:10


© Reuters. The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren

(Reuters) – Canada’s main stock index was set to open lower on Friday, as turmoil in the European banking sector soured the mood in markets, with declining prices adding to the pressure.

European banks fell sharply, led by Deutsche Bank (ETR:) and UBS, on mounting worries that the crisis in the sector was showing no signs of easing. [MKTS/GLOB]

March futures on the S&P/TSX index were down 0.7% at 7:17 a.m. ET.

Crude oil prices fell on lower demand prospects after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years. [O/R]

Among company news, Enbridge (NYSE:) Inc said it was “disappointed” by the U.S. Army Corps of Engineers’ decision to extend the federal permitting process for the oil distributor’s proposed Great Lakes Tunnel.

Western Copper (NYSE:) and Gold Corp said Mitsubishi Materials Corp has agreed to acquire a 5% stake in the miner for $C2.63 per share.

Investors also await Canada’s retail sales data for January, which is expected to rise 0.7%, as per a Reuters poll, from a 0.5% increase in the previous month.

In the previous session, the Toronto Stock Exchange’s S&P/TSX composite index closed down 0.4% to a six-day low, dragged down by energy and financial stocks. ()

were down 326 points, or 1.01%, at 7:17 a.m. ET, while were down 33 points, or 0.83%, and were down 67.25 points, or 0.52%. [.N]

COMMODITIES AT 7:00 a.m. ET

: $2,002; +0.3% [GOL/]

US crude: $67.42; -3.63% [O/R]

: $73.4; -3.64% [O/R]

U.S. ECONOMIC DATA DUE ON FRIDAY

Feb Durable Goods due at 8:30 a.m. ET

March S&P Global (NYSE:) composite PMI data due at 9:45 a.m. ET

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report ()

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1 = 1.3769 Canadian dollars)

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 96,353.82 1.69%
ethereum
Ethereum (ETH) $ 3,316.02 2.98%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 246.79 3.90%
bnb
BNB (BNB) $ 649.25 1.70%
xrp
XRP (XRP) $ 1.35 9.87%
dogecoin
Dogecoin (DOGE) $ 0.4129 5.08%
usd-coin
USDC (USDC) $ 1.00 0.27%
cardano
Cardano (ADA) $ 0.978254 8.56%
staked-ether
Lido Staked Ether (STETH) $ 3,316.72 2.97%
tron
TRON (TRX) $ 0.203397 5.37%
avalanche-2
Avalanche (AVAX) $ 39.69 5.67%
the-open-network
Toncoin (TON) $ 5.98 4.61%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 4.61%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,920.25 3.88%
stellar
Stellar (XLM) $ 0.472999 6.32%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,007.72 2.11%
polkadot
Polkadot (DOT) $ 8.46 2.30%
chainlink
Chainlink (LINK) $ 16.61 5.57%
bitcoin-cash
Bitcoin Cash (BCH) $ 494.29 3.46%
weth
WETH (WETH) $ 3,316.21 3.19%
sui
Sui (SUI) $ 3.32 4.72%
pepe
Pepe (PEPE) $ 0.00002 6.62%
leo-token
LEO Token (LEO) $ 8.51 1.62%
near
NEAR Protocol (NEAR) $ 6.42 2.16%
litecoin
Litecoin (LTC) $ 93.93 6.75%
aptos
Aptos (APT) $ 11.85 6.49%
uniswap
Uniswap (UNI) $ 10.34 5.25%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,486.35 2.73%
hedera-hashgraph
Hedera (HBAR) $ 0.140274 8.99%
usds
USDS (USDS) $ 1.00 0.28%
internet-computer
Internet Computer (ICP) $ 10.68 7.63%
crypto-com-chain
Cronos (CRO) $ 0.18264 5.28%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.537589 5.54%
ethereum-classic
Ethereum Classic (ETC) $ 27.71 7.03%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.08%
render-token
Render (RENDER) $ 7.43 5.24%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.47 5.91%
kaspa
Kaspa (KAS) $ 0.149397 5.47%
bittensor
Bittensor (TAO) $ 501.52 3.35%
whitebit
WhiteBIT Coin (WBT) $ 24.37 1.44%
dai
Dai (DAI) $ 1.00 0.17%
celestia
Celestia (TIA) $ 7.78 14.64%
arbitrum
Arbitrum (ARB) $ 0.816072 3.35%
bonk
Bonk (BONK) $ 0.000045 8.75%
mantra-dao
MANTRA (OM) $ 3.67 1.41%
filecoin
Filecoin (FIL) $ 5.41 1.82%
cosmos
Cosmos Hub (ATOM) $ 8.27 0.15%
vechain
VeChain (VET) $ 0.039884 8.54%
okb
OKB (OKB) $ 52.31 2.51%