(RTTNews) – Despite concerns about global trade, and political uncertainty in Europe, the Canadian market is modestly higher Tuesday afternoon, supported by gains in materials, industrials and financials sectors.
Expectations of interest rate cuts by the Federal Reserve and the Bank of Canada appear to be aiding the market’s upmove. Investors are also reacting to some earnings updates.
The benchmark S&P/TSX Composite Index was up 110.17 points or 0.39% at 28,280.11 a few minutes ago.
Bank of Nova Scotia is up more than 5%. The bank reported third quarter net income of C$2.5 billion compared to C$1.9 billion, last year. Diluted earnings per share was C$1.84, compared to C$1.41.
Bank of Montreal is gaining nearly 4%. BMO Financial Group reported a net income of $2.33 billion or $3.14 per diluted share for the quarter ended July 31, compared with a profit of $1.87 billion or $2.48 per…
