Canada Stock Might Struggle At Open

(RTTNews) – Statistics Canada will be releasing inflation for January today morning and that will give an insight into the influence of higher oil prices in January.

Canadian stock might be opening lower.

The earnings reports as well as geopolitical developments, especially the war situation in Ukraine are closely monitored by investors.

Ukraine has reportedly requested Canada’s support for regaining its cargo rail system.

S&P TSX finished Monday at 20,515.24, down 91.18 points or 0.44 percent, while its 52-week range was 17,873.18-22,213.07.

Crude oil futures is gaining 0.61 percent at 77.00, while Brent Oil is down 0.64 percent at 83.54. The natural gas futures also is declining 1.53 percent.

Gold futures is at 1,841.14, down 0.49 percent, while Silver is up 0.24 percent at 21.773.

In the corporate segment, Molson Coors Brewing Co. reported fourth-quarter loss on flat revenues. Looking ahead to fiscal 2023, the company expects net sales to grow in low single-digit versus 2022 on a constant currency basis.

European shares are trading lower. CAC 40 of France is down 16.65 points or 0.23 percent. DAX of Germany is declining 44.33 points or 0.29 percent. FTSE 100 of England is declining 16.93 points or 0.21 percent. The Swiss Market Index is down 26.44 points or 0.23 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.43 percent.

Asian stocks finished lower on Tuesday. Chinese shares bucked the weak trend to end higher. The benchmark Shanghai Composite index rose 0.49 percent to 3,306.52.

Hong Kong’s Hang Seng index fell 1.71 percent to 20,529.49 ahead of the index review this week.

Japanese shares ended lower. The Nikkei average slipped 0.21 percent to 27,473.10 while the broader Topix index closed 0.11 percent lower at 1,997.46.

Australian markets ended on a subdued note. The benchmark S&P/ASX 200 eased 0.21 percent to settle at 7,336.30 while the broader All Ordinaries index closed 0.10 percent lower at 7,544.60.