Bay Street Likely To Open Slightly Higher
2024-12-18
4999
(fxcue news) - Canadian shares are likely to open higher on Tuesday, and trading may be a bit lackluster and volumes rather thin as the market will close at 1 pm, and remain closed on Wednesday and Thursday for Christmas and Boxing Day holidays.
Rogers Communications Inc. (RCI.B.TO) will be in focus after Canada's antitrust regulator said it was suing the company for allegedly misleading customers about offering unlimited data under some plans.
The Canadian market closed on a firm note on Monday, lifted by gains in energy stocks. The start was a bit shaky, but stocks gained in strength as the day progressed as buying gathered momentum, although volumes remained a bit thin ahead of upcoming Christmas holidays.
The benchmark S&P/TSX Composite Index, which dropped to 24,510.50, rallied to close with a gain of 149.50 points or 0.61% at 24,748,98,
Asian stocks closed mostly higher on Tuesday after moving in a tight range. Markets in Hong Kong and Sydney closed early for Christmas Eve.
European stocks are slightly higher on thin volumes. Markets in German and Switzerland are closed today, while the U.K. and France will close early for Christmas Eve.
In commodities, West Texas Intermediate crude oil futures are up $0.41 or 0.58% at $69.65 a barrel.
Gold futures are up $2.30 or 0.1% at $2,630.50 an ounce, while Silver futures are down $0.049 or 0.16% at $30.140 an ounce.
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