By Ketki Saxena
Investing.com -- Toronto's main stock index, the S&P/TSX Composite index rallied today as investor optimism grew following US CPI data that showed an only marginal increase (0.2% month over month), reinforcing bets that the Fed may be at the end of its rate hike cycle.
The commodity-heavy TSX did face some pressure from declining crude prices, however, as worries of a Chinese slowdown outweighed optimism about the Fed's future rate-hike path.
Toronto Stock Markets News
Algonquin Power (TSX:AQN) & Utility Corp posted a second-quarter earnings loss attributable to shareholders of US$253.2 million in the quarter ended June 30 compared to a US$33.4 million loss in the same period a year earlier. Adjusted net earnings fell to eight cents per share from 16 cents per share. Second-quarter revenue came in at US$627.9 million, up from US$619.4 million a year prior.
Algonquin also announced that it is considering a sale of its renewable energy business, following a strategic review launched in May.
Canadian Tire (TSX:CTCa) saw profits fall a whopping 32% to $99.4 million from $145.2 million in the same period a year earlier. Normalized diluted earnings came in at $3.08 per share, compared to $3.11 per share a year earlier. Revenue totaled $4.26 billion, compared to $4.40 billion a year ago.
Canopy Growth Corp (TSX:WEED). reported a first-quarter net loss that narrowed to $42 million compared with a net loss of approximately $2.1 billion a year ago. The loss equated to 7 cents per diluted share compared with a loss of $5.24 per diluted share a year ago. Revenue came in at $121.1 million, up from $118.7 million a year ago.
View our earnings calendar for all releases.
Canadian Stocks Moving Markets Today
Top Gainers on the TSX Today:
Top Losers on the TSX Today:
In Canadian Economics
No major economic data expected today.
View our economic calendar for all releases.