By Ketki Saxena
Investing.com – Canada's main stock index, the S&P/TSX Composite tracked Wall Street higher by the afternoon, with stocks rising despite opening on a negative note following US Jobs data.
US nonfarm payrolls came in above expected, leading markets to pare back bets on the Fed cutting rates in March.
All eyes now are on the Fed’s interest rate decision next week.
Toronto Stock Market News
CWB financial group posted net income of $76.8 million or 80 cents per diluted share for the quarter ended Oct. 31, up from $67.7 million or 72 cents per diluted share a year earlier. Revenue totalled $291.8 million, up from $279.8 million a year earlier.
Panama’s government has ordered First Quantum Minerals (TSX:FM) Ltd. to end all activity, including “extraction, processing, refining, transportation, export and sales activities” at its Cobre Panama mine. The order follows a ruling from Panama’s top court last month that First Quantum’s contract to operate the mine was unconstitutional, after months of nationwide protests.
Canadian Energy Stock ratings from J.P. Morgan: MEG Energy (TSX:MEG) downgraded to "neutral" from "overweight", and Imperial Oil (TSX:IMO) upgraded to "neutral" from "underweight".
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In Canadian Economics
No Major Canadian economic data expected.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.