By Ketki Saxena
Investing.com – Canada's main stock index, the S&P/TSX Composite, tracked Wall Street higher, as markets continue to remain optimistic on growing hopes for a soft landing in the US, and rate cuts next year from the Federal Reserve.
Today’s US GDP data (second estimate) showed that the US economy in Q3 grew faster than had initially been thought.
The commodity heavy Canadian index was also supported by crude prices as sources said that OPEC+ talks will be focused on deepening current supply cuts.
Toronto Stock Market News
First Quantum (TSX:FM) shares slid, Panama’s government said it will proceed with the shutdown of the Canadian miner’s giant open-pit copper mine in the country, after Panama’s top court ruled that the mine’s contract was unconstitutional. The announcement from the government closed off the possibility that First Quantum could reach a new deal to keep the mine operational.
Enbridge Inc (TSX:ENB) will be raising its annual dividend by 3% to $3.66 per share - marking its 29th consecutive yearly increase. The dividend will be effective March 1, 2024.
Alimentation Couche Tard Inc (TSX:ATD)Inc.posted Q2 net earnings of US$819.2 million, up from US$810.4 million this time last year. Diluted earnings per share were 85 cents US, up from 79 cents US from this time a year ago.
For earnings, view our earnings calendar.
Toronto Stocks Moving Markets Today
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In Canadian Economics
Canada's current-account deficit narrowed in Q3 to $3.223 billion in the three months through September. Expectations were for a surplus of $1 billion.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.