By Ketki Saxena
Investing.com -- Canada’s main stock index, the S&P/TSX Composite index was on track for its fourth weekly decline in five weeks, as US 10-year Treasuries hovered near 5%, investors worried about interest rates staying higher for longer, and escalating tensions in the Middle East fanned risk aversion.
Canadian Stock Market News
RBC (TSX:RY) has responded to Pierre Poilievre’s call to Finance Minister Chrystia Freeland to block RBC’s proposed takeover of HSBC Canada. After Poilievre argued that the takeover would reduce competition and negatively affect Canadians, RBC responded that the departure of HSBC Canada’s parent company had caused “instability” for Canadian Customers. RBC says that its take-over plans offer certainty and stability to these customers.
TC Energy (TSX:TRP) has received approval from US Federal regulators to approve the expansion of its Gas Transmission Northwest Pipeline in the Pacific Northwest. The expansion, GTN Xpress, is designed to expand the capacity of the pipeline, but has faced protests from environmentalists and US officials.
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In Canadian Economics
Data showed Canadian retail sales fell by 0.1% in August from July, down in six of nine subsectors, cementing bets of a pause in rate hikes from the Bank of Canada next week.