TSX, Wall Street higher as trump risk reassessed
Equity markets in Europe and Asian ended their sessions lower as US political uncertainty remained the key focus.
But new interpretation of a video interview featuring sacked FBI director James Comey helped Wall Street traders feel more confident in risk taking. Wall Street indexes closed higher after the sell-off in the previous session.
The main TSX closed flat with healthcare, IT and consumer staples leading. The index’s main sector groups were split though with 5, including financials, lower.
Gold prices eased from a strong rally recently while oil prices continued gaining.
The S&P/TSX Composite Index closed up 3.52 (0.02 per cent)
The Dow Jones closed up 56.09 (0.27 per cent)
Oil is trending higher (Brent $52.49, WTI $49.34 at 4.35pm)
Gold is trending lower (1248.20 at 4.35pm)
The loonie is valued at U$0.7351
NAFTA renegotiation will begin in 3 months
The renegotiation of the NAFTA trade deal will begin mid-August the Trump administration said Thursday.
US Trade Representative Robert Lighthizer told reporters that the agreement with Canada and Mexico will build on “what has worked” but change what hasn’t – with US interests paramount.
The news has been welcomed by Canada and Mexico, both keen to end uncertainty that has existed since President Trump won the election last November.
Home Capital adds new board member as original investor leaves
One of the original investors in Home Capital Group John Marsh, has stepped down from the company.
His place on the board will be taken by legal consultant James Lisson whose experience includes senior roles at two Canadian law firms and an advisor role at the Canadian Department of Justice.
“Jim Lisson is yet another excellent addition to the Home Capital Board of Directors as we move ahead with our governance renewal,” said Brenda Eprile, Chair of the Board of Home Capital. “He brings deep expertise in areas that are vital to our future success, and we look forward to his counsel.”