Canada’s top stock index advanced on Wednesday, lifted by stronger-than-expected earnings from Royal Bank of Canada (TSX:RY) and National Bank (TSX:NA). Royal Bank posted an increase in Q4 profit, driven by solid performance in its capital markets division. Shares of Canada’s largest bank climbed more than C$1. National Bank also reported higher Q4 earnings, supported by its wealth management segment.
Meanwhile, in the US, traders remain upbeat about corporate earnings and are focused on the Federal Reserve’s upcoming interest rate decision on Dec. 10. Current market expectations suggest an approximately 89 per cent probability of a rate cut at the meeting—a significant jump from mid-November odds.
| TSX | 31,160.54 | +111.26 |  |
| TSXV | 943.00 | +6.67 | |
| CSE | 154.51 | +0.92 | |
| DJIA | 47,882.90 | +408.44 | |
| NASDAQ | 23,454.09 | +40.42 | |
| S&P 500 | 6,849.72 | +20.35 | |
The Canadian dollar traded for 71.67 cents US compared to 71.52 cents US on Tuesday.
US crude futures traded $0.60 higher at US$59.24 a barrel, and the Brent contract rose $0.51 to US$62.96 a barrel.
The price of gold was up US$13.14 to US$4,202.70.
In world markets, the Nikkei was up 561.23 points to ¥49,864.68, the Hang Seng was down 334.32 points to HK$25,760.73, the FTSE was down 5.83 points to ₤9,695.97, and the DAX was down 28.41 points to €23,682.45.
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