Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Sept 7 - Futures for Canada's main stock index were muted on Thursday as investors assessed the Bank of Canada's decision to keep interest rates unchanged, while signaling further rate hikes if needed.The BoC on Wednesday held its key overnight interest rate at 5%, noting that the economy had entered a period of weaker growth, but said it could raise borrowing costs again should inflationary pressures persist.
Market participants also expect the U.S. Federal Reserve to hold interest rates steady when it meets later this month, but stronger-than-expected U.S. services sector data on Wednesday spurred worries of elevated interest rates sticking around for longer.Global sentiment was hurt further as data showed China's exports and imports fell in August, with sagging overseas demand and weak consumer spending hitting businesses in the world's second-largest economy.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.9% down on Wednesday, its biggest decline in three weeks. On the companies front, natural gas firm Peyto Exploration & Development has agreed to buy Spanish energy company Repsol's Canadian assets for $468 million, the two companies said in separate statements.
Canadian auto-parts supplier Magna International raised its sales forecast for fiscal 2025, on the back of sustained demand for its sensors and electrified powertrain systems.Brent crude : $90.2; -0.4%
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