By Ketki Saxena
Investing.com -- At 10:15 a.m in Toronto, the S&P/TSX composite index was at 18,374.91 points, up 0.29%, supported by the morning’s gains in crude and tracking U.S equities higher following better-than-expected retail sales data.
In Canadian Economics
Canadian wholesale transactions rose 1.6% in May to 81.10 billion Canadian dollars, the equivalent of US$61.83 billion, led by higher sales in the food, beverage and tobacco subsector.
Foreign securities meanwhile slowed in May as nonresident investors purchased a net 2.35 billion Canadian dollars, in Canadian securities. Meanwhile, Canadian investors bought a net C$573 million in foreign securities.
As a result, international transactions generated a net inflow of funds of C$1.78 billion in May.
Corporate
While no major Earnings or announcements are expected today, the introduction of BCE (TSX:BCE) Inc. chief executive officer Mirko Bibic to the Royal Bank of Canada (TSX:RY) board is making waves on Bay street.
The appointment tightens the bonds between two of Canada’s largest companies. Former RBC CEO Gord Nixon chairs BCE’s board, and former RBC executive Jennifer Tory is also a BCE director. She joined BCE’s board in April, 2021.