By Ketki Saxena
Investing.com - The Canadian index tracked global stocks higher this morning, supported by its commodities bent and an uptick in gold and silver prices that helped boost mining stocks - even as Wall Street opened lower on the first day of trading in the New Year.
Sentiment on Wall Street remained muted ahead of a week filled with macroeconomic data south of the border, including the release of the Federal Reserve’s December minutes, and US payrolls data.
Further gains on the Canadian index were capped by a slide in crude prices, following data that showed China's factory activity shrank in December as surging COVID-19 cases continued to weigh on demand even after the wide scale rescinding of lockdown measures.
The Biggest Stories on Bay Street
The new year kicks off with a new twist in the Shaw - Rogers Communications (TSX:RCIa) deal. The Competition Bureau, which opposes the deal, has prevailed on a Federal Court to issue an emergency stay temporarily suspending the decision of the Competition Tribunal to dismiss the case the Bureau had brought against Rogers Inc.'s proposed $20-billion takeover of Shaw Communications Inc.
Another twist to another long-winded dispute: this time related to First Quantum’s differences with the Panamanian government related to a copper mine in the country. The greatest point of content is a debated floor on tax payments for the`` mine – Panama wants a minimum flat fee of US$375 million annually from the company, whereas First Quantum is looking for a more flexible option.1
Canadian Stocks Moving Markets This Morning
Top Gainers:
Biggest Losers:
- Birchcliff Energy Ltd . (TSX:BIR)
- Vermilion Energy Inc . (TSX:VET)
- Advantage Oil & Gas Ltd. (TSX:AAV)
In Canadian Economics
No major Canadian Economic Data