Stocks, oil gains on US election hopes but gold slumps
The FBI’s announcement that it was no longer considering criminal charges against Hillary Clinton was well received by the markets Monday.
Global equities and oil gained along with sentiment but that was bad news for gold markets as prices fell as risk appetite returned ahead of Tuesday’s vote.
The main TSX index closed almost 1 per cent higher as the information technology sector rose 3 per cent following strong preliminary results from online bingo firm Intertain Group which saw its stock gain more than 26 per cent.
Energy was also up, by almost 1.5 per cent, as oil prices rose 2 per cent; overall nine of the sectors gained while materials lagged.
Wall Street and Europe saw gains of around 2 per cent and Asian markets also closed higher.
The S&P/TX Composite Index closed up 143.2 (0.99 per cent)
The Dow Jones closed up 371.4 (2.08 per cent)
Oil is trending higher (Brent $46.35, WTI $45.01 at 4.15pm)
Gold is trending lower (1281.70 at 4.15pm)
The loonie is valued at U$0.7482
Telecom firms have 3 months to sort nuisance callers plan
Telecom firms must introduce a tech solution to stop nuisance phone calls and have 90 days to do it, the CRTC announced Monday.
The regulator said that consumers must be protected from unwanted calls and warned the telecom industry that it will face penalties if it fails to come up with a workable solution.
National Bank says Lending Club deal is not an equity stake
Online loan firm Lending Club said Monday that National Bank’s US Credigy business has approved “an investment of U$1.3 billion” on its platform in the coming months.
National bank clarified the situation later Monday, telling the Globe and Mail that the deal was not an equity stake but a purchase of loans through the online platform using its own lending criteria.
The clarification was aimed at National’s investors who may have been concerned at any exposure to Lending Club’s own performance.
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