By Ketki Saxena
Investing.com – Canada’s main stock index, the TSX extended gains, tracking Wall Street higher as optimism around economic data continued. After US CPI yesterday came in cooler than expected, today’s data showed that US October retail sales fell after months of gains, reinforcing expectations that the Fed is at its terminal rate.
Toronto Stock Market News
Loblaws reported a profit of $621 million or $1.95 per diluted for its latest quarter, compared to a profit of $556 million or $1.69 per diluted share in the same quarter a year earlier. Revenue for the quarter totalled $18.27 billion, up from $17.39 billion this time a year ago.
Metro (TSX:MRU) Inc. reported a fourth-quarter profit of $222.2 million, up from $168.7 million in the same quarter last year. Profit amounted to 96 cents per diluted share, up from 70 cents per diluted share this time a year ago. Sales in the quarter came in at $5.07 billion, up from $4.43 billion this time last year.
Lithium Americas (TSX:LAAC) shares rose after National Bank Of Canada initiated coverage of the stock with a price target of $16 and an “Outperform” rating.
For earnings, view our earnings calendar.
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In Canadian Economics
Meanwhile, data showed domestic factory sales in September rose by 0.4% on a monthly basis, to a seasonally adjusted $72.79 billion.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.