Oil prices down 4 per cent, TSX falls
North American stocks were impacted by a 4 per cent drop in the price of US crude oil Wednesday as stockpile numbers showed an increase. The international benchmark Brent also fell, but by 3 per cent.
Globally stocks were weaker in early trade due to lower volume approaching the Easter holidays; and of course from the aftermath of the Belgian terror attacks.
Asian markets ended their session mostly lower with Shanghai the outperformer. Europe’s indexes showed strong resilience in the face of the attacks and most ended their session higher with travel and tourism stocks notably gaining.
The S&P/TSX Composite Index closed 114.0 (0.84 per cent)
The Dow Jones closed up 79.98 (0.45 per cent)
Oil is trending lower (Brent $40.49, WTI $39.79 at 4.45pm)
Gold is trending lower (1220.70 at 4.45pm)
The loonie is valued at U$0.7568
Amaya CEO charged with insider trading, shares plunge
David Baazov, the chief executive of Amaya is to be charged with 5 cases of alleged insider trading by the Quebec securities regulator. The online gaming firm’s shares were suspended for a time Wednesday and then took a 20 per cent plunge when they resumed trading. Autorité des marchés financiers said that the charges relate to Amaya’s acquisition of PokerStars and Baazov is accused of “aiding with trades while in possession of privileged information, influencing or attempting to influence the market price of the securities of Amaya inc., and communicating privileged information.”
Securities enforcer leaving for Hong Kong
The director of enforcement at the Ontario Securities Commission
is leaving for a new job in Hong Kong. Tom Atkinson has held the role for 7 years and will be doing the equivalent job for the Hong Kong Securities and Futures Commission. His replacement at the OSC will be announced in the coming weeks.
Swiss airline confident in Bombardier’s CSeries
Swiss Air says it is confident that Bombardier will deliver its order of CSeries jets on time in June, ready to go into operation in the third quarter of 2016. Despite being hit by delays and other issues, Bombardier has carried out the necessary trials on Swiss Air routes and the airline’s technical boss, Peter Wojahn, told Reuters that he was “impressed” with how the aircraft had performed.