Energy sector lifts TSX, loonie rises
Oil prices gained almost 2 per cent Wednesday, boosting the energy group of the main TSX index, one of five of the sectors to gain including healthcare, materials and financials.
The loonie also gained, reaching 75 cents, while gold prices were higher but eased later in the session. Gold miners were among the day’s best performers.
Meanwhile, Wall Street closed the session mixed with the Dow slipping while the S&P500 and Nasdaq ended higher. European indexes closed higher following the start of the Brexit process; Asian markets were mostly higher with China lagging.
The S&P/TSX Composite Index closed up 59.06 (0.38 per cent)
The Dow Jones closed down 42.18 (0.20 per cent)
Oil is trending higher (Brent $52.30, WTI $49.41 at 4.10pm)
Gold is trending lower (1252.00 at 4.10pm)
The loonie is valued at U$0.7500
TD gets set to face shareholders
Toronto-Dominion shareholders will likely have some tough questions for the bank’s executives Thursday in the wake of media reports concerning alleged sales practices.
Chief executive Bharat Masrani and his team will be meeting with shareholders for the first time since the reports which have led to a drop in the bank’s share price.
Saskatchewan wants energy firms to relocate from Alberta
Saskatchewan premier Brad Wall has offered subsidized relocation costs and other incentives for energy companies to move headquarters from Alberta.
The offer was made in a letter to Whitecap Resources, seen by The Canadian Press, which said that a co-operative move by energy firms may make sense for additional cost savings.
Even before the letter emerged, a war of words had begun between Wall and Alberta’s premier Rachel Notley.