Last week the world’s markets were buoyed by the European central Bank announcing its massive bond-buying programme to boost the flagging economies of the Eurozone. Today that same region has weighed heavily on the minds of investors as Greece’s anti-austerity party were elected to power yesterday and the likelihood of Greece defaulting on its debts to the EU increased. Oil continued its rollercoaster ride as prices increased on news of a major snowstorm heading for the US and an increase in demand for heating oil, while OPEC’s secretary general suggesting that the bottom had been reached and Saudi Arabia’s new monarch pledging to continue with current policy saw prices recede.
The S&P/TSX Composite Index closed up 18.48 (0.13 per cent)
The NYSE closed higher
Oil is trending flat
Gold is trending higher
The loonie is trending higher against the US dollar ($0.8020 at close)