Mexico stocks higher at close of trade; S&P/BMV IPC up 0.25%

Investing.com – Colombia stocks were lower after the close on Tuesday, as losses in the Financials, Investment and Public Services sectors led shares lower.

At the close in Colombia, the COLCAP declined 0.18%.

The best performers of the session on the COLCAP were Grupo Nutresa SA (BVC:NCH), which rose 5.23% or 6,800.00 points to trade at 136,800.00 at the close. Meanwhile, Canacol Energy Ltd (BVC:CNE) added 2.84% or 140.00 points to end at 5,070.00 and Celsia SA (BVC:CEL) was up 2.30% or 110.00 points to 4,885.00 in late trade.

The worst performers of the session were Grupo de Inversiones Suramericana SA Preferred (BVC:SIS_p), which fell 0.87% or 320.00 points to trade at 36,480.00 at the close. Corporacion Financiera Colombiana (BVC:CFV_p) declined 0.71% or 120.00 points to end at 16,800.00 and Grupo Energia Bogota SA ESP (BVC:GEB) was down 0.50% or 15.00 points to 2,995.00.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 0 to 0.

Shares in Grupo Nutresa SA (BVC:NCH) rose to all time highs; up 5.23% or 6,800.00 to 136,800.00.

US coffee C for December delivery was up 4.67% or 15.70 to $351.75 . Elsewhere in commodities trading, US cocoa for delivery in December rose 0.04% or 3.00 to hit $8,187.00 , while the December Gold Futures contract fell 0.56% or 19.05 to trade at $3,358.95 a troy ounce.

USD/COP was down 0.01% to 4,033.63, while BRL/COP fell 0.01% to 732.91.

The US Dollar Index Futures was up 0.12% at 98.14.

Investing.com – Russia stocks were higher after the close on Tuesday, as gains in the Power, Telecoms and Mining sectors led shares higher.

At the close in Moscow, the MOEX Russia Index added 0.39%.

The best performers of the session on the MOEX Russia Index were PIK SHb PJSC (MCX:PIKK), which rose 1.25% or 8.10 points to trade at 658.70 at the close. Meanwhile, Polyus PJSC (MCX:PLZL) added 1.18% or 25.00 points to end at 2,140.60 and ROSSETI PJSC (MCX:FEES) was unchanged 1.14% or 0.00 points to 0.07 in late trade.

The worst performers of the session were Aeroflot PJSC (MCX:AFLT), which fell 2.12% or 1.46 points to trade at 67.34 at the close. Novolipetsk Steel (MCX:NLMK) declined 1.70% or 2.22 points to end at 128.58 and Rosneft PJSC (MCX:ROSN) was down 1.70% or 8.10 points to 467.10.

Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 153 to 89 and 9 ended unchanged.

The Russian Volatility Index – RVI, which measures the implied volatility of MOEX Russia Index options, was down 0.34% to 38.04.

Gold Futures for December delivery was down 0.56% or 19.05 to $3,358.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October fell 1.15% or 0.72 to hit $61.98 a barrel, while the October Brent oil contract unchanged 0.00% or 0.00 to trade at $65.96 a barrel.

USD/RUB was unchanged 0.00% to 80.94, while EUR/RUB unchanged 0.00% to 94.07.

The US Dollar Index Futures was up 0.12% at 98.14.

Investing.com - Canada’s main stock exchange was marginally lower Tuesday even after a soft inflation data and a positively-received meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky in Washington to discuss potential peace.

By 4.05 ET, the S&P/TSX 60 index standard futures contract was down 2.5 points or 0.14%. 

Toronto Stock Exchange’s S&P/TSX Composite index ended 98 points or 0.35% lower at 27,823.88. It closed Monday 0.1%, or 17 points, higher at 27,922.85.

Canada’s annual inflation rate (CPI) rose 1.7% in July, which was lower than 1.9% increase in June. On a seasonally adjusted monthly basis, the CPI rose 0.1% in July.

The CPI rose 0.3% month over month in July. On a seasonally adjusted monthly basis, the CPI was up 0.1%.

The meeting to discuss an end to the longstanding conflict between Russia and Ukraine ended with Trump saying that the U.S. would help guarantee Ukraine’s security, but did not specify the terms of any guarantees. 

Trump also raised the possibility of trilateral talks, also including Russian President Vladimir Putin, following a meeting with Putin in Alaska last week.

Still, a peace deal appears far from imminent, especially given that Putin has shown little indication of agreeing to a ceasefire. The most significant sticking point is the land that Russia has occupied in fighting, which Ukraine wants back. 

At home, investors will focus on the latest Canadian inflation data, with the July CPI index expected to fall to 1.7% on an annual basis, down from 1.9% the prior month.

The Bank of Canada decided late last month to hold its policy rate steady at 2.75%, having cut its policy rate seven consecutive times from June 2024 to March of this year in a bid to boost the economy as inflation showed signs of coming back under control.

Fed’s Bowman set to speak

Away from Canada, there is some U.S. housing data to study Tuesday, in the form of housing starts and building permits for July.

However, most attention is likely to be on a speech by Fed Governor Michelle Bowman later in the session, ahead of the Federal Reserve’s Jackson Hole symposium later in the week.

Bowman was one of two dissenting voices favouring a rate cut at last Fed month’s meeting.

Markets are currently indicating an 83% chance for a quarter-point rate cut at the Fed’s next policy meeting in September.

Crude falls after Washington talks

Oil prices fell Tuesday as traders assessed the potential for three-way talks to end the war in Ukraine, which would likely lead to the lifting of sanctions on Russian crude.

At 12.05 ET, Brent futures slipped 1.1% to $65.85 a barrel, and U.S. West Texas Intermediate crude futures fell 1.2% to $61.97 a barrel.

Both contracts rose nearly 1% on Monday after U.S. Trade Adviser Peter Navarro criticized India’s purchases of discounted Russian crude as funding the war, renewing supply flow worries.

Following talks between Trump and Zelensky in Washington, the U.S. president floated the possibility of a subsequent three-way discussion, including Russia’s Vladimir Putin, keeping alive hopes for a pathway to negotiations. 

Gold prices traded marginally lower with traders mostly kept to the sidelines in want of more cues on a potential Russia-Ukraine peace deal, while anticipation of the Jackson Hole Symposium also spurred caution.

At 12:05 ET, Spot gold was down 0.32% to $3,322.21 an ounce and gold futures for October rose 0.37% to $3,365.52 /oz.