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TSX Rises; First Quantum Ordered to End Cobre Panama Operations; CWB Earnings Beat

Published 2023-12-08, 02:34 p/m
© Reuters.
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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".

For all earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

  • Ero Copper (TSX:ERO)
  • Capstone Mining (TSX:CS)
  • HudBay Minerals (TSX:HBM)

Top Losers on the TSX Today:

  • Stella Jones (TSX:SJ)
  • First Majestic Silver (TSX:FR)
  • Equinox Gold (TSX:EQX)

For all Toronto Stocks Moving Markets today, view our Canada Markets Page.

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.

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