By Ketki Saxena
Investing.com – The TSX eked out a gain at midday, tracking Wall Street higher after US labour market data pointed to a slowing economy, with risk certain remaining uncertain as investors weigh the possibility of a recession against hopes that the US Federal Reserve will now be forced to hold interest rates in May.
The commodity heavy Canadian index was also supported by gains in crude, headed for a third straight week of gains, boosted by the OPEC+ production cuts, and a drop in U.S. oil inventories.
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Investment holding company Aimia Inc. is facing opposition from its largest shareholder vis a vis the re-election of the company’s board of directors. Mithaq Holding Company, a family office based in Saudi Arabia, which holds a 19.9% in the company says it is disappointed with recent events and has lost confidence in the board and management. Mithaq plans to vote against the reelection of the company’s board at Aimia’s annual meeting on April 18.
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In Canadian Economics
The Canadian labour market blew past expectations in March once again, with the domestic economy adding 34,700 jobs in the month - compared to expectations for 7,500 positions forecast by economists. The unemployment rate meanwhile held steady at 5%, while wages grew 5.3% year over year.