The Canadian stock market is poised for an upward opening on Friday morning, following the Christmas holiday break. This expected rise is largely attributed to the energy sector, buoyed by rising crude oil prices. Additionally, an upward revision of China's growth forecast by the World Bank may further bolster market sentiment.
In corporate news, Sierra Metals Inc. has reported that a majority of its shareholders have pledged not to tender their shares if Alpayana S.A.C. formalizes its unsolicited all-cash takeover bid. The proposed bid aims to acquire all Sierra Metals' outstanding common shares at a price of C$0.85 per share.
Loblaw Companies Limited, a prominent Canadian retailer, announced the initiation of an automatic share purchase plan (ASPP) with a broker. This move is part of its previously announced normal course issuer bid (NCIB) and aims to repurchase 5% of its 306.74 million outstanding shares.
The Canadian market concluded a truncated trading session on Tuesday with moderate gains, driven by performances in the energy and technology sectors. The S&P/TSX Composite Index closed 97.84 points or 0.4% higher, at 24,846.82.
In Asian markets, trading results were mixed on Friday. Japanese stocks led the regional gains due to yen depreciation, despite political unrest affecting Seoul's markets negatively. Mainland Chinese and Hong Kong indices remained relatively flat after data showed China's industrial profits declined for the fourth consecutive month in November. Meanwhile, Japanese markets saw a rally, as speculation arose that the Bank of Japan may delay interest rate increases amid tariff threats from Trump, despite a higher-than-expected inflation reading in Tokyo.
European shares were broadly higher on Friday afternoon, with notable contributions from healthcare and energy stocks showing strong performance.
In the commodities market, the price of West Texas Intermediate crude oil futures increased by $0.71, or 1.01%, reaching $70.33 per barrel. Conversely, gold futures fell by $11.00, or 0.41%, to $2,642.90 per ounce, and silver futures declined by $0.209, or 0.69%, to $30.180 per ounce.
The material has been provided by InstaForex Company - www.instaforex.com
In corporate news, Sierra Metals Inc. has reported that a majority of its shareholders have pledged not to tender their shares if Alpayana S.A.C. formalizes its unsolicited all-cash takeover bid. The proposed bid aims to acquire all Sierra Metals' outstanding common shares at a price of C$0.85 per share.
Loblaw Companies Limited, a prominent Canadian retailer, announced the initiation of an automatic share purchase plan (ASPP) with a broker. This move is part of its previously announced normal course issuer bid (NCIB) and aims to repurchase 5% of its 306.74 million outstanding shares.
The Canadian market concluded a truncated trading session on Tuesday with moderate gains, driven by performances in the energy and technology sectors. The S&P/TSX Composite Index closed 97.84 points or 0.4% higher, at 24,846.82.
In Asian markets, trading results were mixed on Friday. Japanese stocks led the regional gains due to yen depreciation, despite political unrest affecting Seoul's markets negatively. Mainland Chinese and Hong Kong indices remained relatively flat after data showed China's industrial profits declined for the fourth consecutive month in November. Meanwhile, Japanese markets saw a rally, as speculation arose that the Bank of Japan may delay interest rate increases amid tariff threats from Trump, despite a higher-than-expected inflation reading in Tokyo.
European shares were broadly higher on Friday afternoon, with notable contributions from healthcare and energy stocks showing strong performance.
In the commodities market, the price of West Texas Intermediate crude oil futures increased by $0.71, or 1.01%, reaching $70.33 per barrel. Conversely, gold futures fell by $11.00, or 0.41%, to $2,642.90 per ounce, and silver futures declined by $0.209, or 0.69%, to $30.180 per ounce.
The material has been provided by InstaForex Company - www.instaforex.com