logo
Share SHARE
FONT-SIZE Plus   Neg

Investors Shaking Off Trump Anxiety -- Canadian Commentary

Canadian stocks are poised to end the week with modest gains Friday, as markets have calmed despite lingering concerns about the U.S. political situation.

Stocks were hammered mid-week amid allegations President Trump improperly asked then-FBI Director to swear his loyalty and drop an investigation of Michael Flynn. Trump then shared classified information with Russia.

After a tantrum on Wednesday, stocks have taken further developments in stride.

Canada's financial stocks steadied along with embattled lender Home Capital (HCG.TO), as the Bank of Canada assured there is no threat of contagion to the wider banking sector.

However, the lender remains in focus today after reports that its cashable guaranteed income certificate deposits (GICs) continued to fall.

Empire Industries Ltd. (EIL.V) has received a $120 million, multi-year, multi-theme park ride system series of contracts with unidentified theme park owners.

Pixelworks will acquire Toronto's ViXS (VXS.TO) in an all-stock transaction valued at approximately $20.2 million.

WTI light sweet crude oil was up 66 cents at $50 a barrel, the highest since April.

The Baker Hughes North American rig count that tracks weekly changes in the number of active operating oil & gas rigs will be published at 1.00 pm ET. The North American Rig Count was 965, while U.S. rigs were 885.

In economic news, Statistics Canada's Consumer Price Index rose 1.6% on a year-over-year basis in April, matching the increase in March. On a seasonally adjusted monthly basis, the Consumer Price Index was up 0.5% in April, after decreasing 0.2% in March.

Retail sales rose 0.7% in March to C$48.3 billion, on the strength of higher sales at motor vehicle and parts dealers. That follows a 0.4% decline in February.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

comments powered by Disqus
Follow RTT