By Ketki Saxena
Investing.com -- The TSX declined in late afternoon trading, pressured by a decline in crude prices as central bank hawkishnes, including a greater-than-anticipated interest rate increases from the Bank of England, fanned concerns of a global slowdown.
Wall Street meanwhile remained mixed, as US Federal Reserve Chairman Jerome Powell maintained a hawkish stance through t his second day of congressional testimony, with his remarks indicating that the tightening cycle for the US central bank has not yet reached its conclusion.
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Empire Co posted a Q4 profit of $182.9 million or 72 cents per share. The result was up from a profit of $178.5 million or 68 cents per share a year earlier. Sales totaled $7.41 billion, down from $7.84 billion in its fourth quarter last year, which included an additional week.
Unifor announced it is set to commence grocery contract negotiations next week with Metro (TSX:MRU) workers across Greater Toronto Area (GTA), with employees having already expressed unanimous approval for potential strike action if satisfactory terms cannot be achieved during talks.
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