Bay Street Flinches As Trump Biffs Canada -- Canadian Commentary

OTTAWA (Alliance News) - Canadian stocks continued to stumble Tuesday amid lower oil prices and ...

Alliance News 13 February, 2018 | 9:20PM
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OTTAWA (Alliance News) - Canadian stocks continued to stumble Tuesday amid lower oil prices and ominous words from US President Donald Trump.

"Canada does not treat us right in terms of the farming and the crossing the borders," Trump said. "We cannot continue to be taken advantage of by other countries."

He threatened increased duties on goods from Canada.

"We are going to charge countries outside of our country -- countries that take advantage of the US," Trump said. "Some of them are so-called allies but they are not allies on trade. ... So we're going to be doing very much a reciprocal tax and you'll be hearing about that during the week and the coming months."

The TSX Composite Index lost 25.41 points to 15,216.47.

Ontario utility Hydro One (H.TO) said adjusted earnings per share (EPS) was USD0.29, and EPS was USD0.26, compared to USD0.22 in the prior year.

DHX Media reported its second quarter profit jumped from a year ago. The company said it would pursue strategic options lsat year.

US stocks rose despite talk of interest rate hikes. "We are in the process of gradually normalizing both interest rate policy and our balance sheet," Fed Chair Jay Powell said in the text of his ceremonial swearing-in speech in Washington.

Cleveland Fed President Loretta Mester made similar remarks earlier in the day.

"If economic conditions evolve as expected, we'll need to make some further increases in interest rates this year and next year, at a pace similar to last year's" when the Fed raised rates three times, she said in a speech in Dayton, Ohio.

Copyright RTT News/dpa-AFX

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