Futures Rally on Tariff Delay Boost
Canadian index futures jumped Tuesday, riding a global equity rally after U.S. President Donald Trump hit pause on planned tariffs targeting EU imports, easing investor jitters and fueling risk appetite.
Market Numbers (Futures)
TSX :Up ( 0.80%) 26,281.58TSXV: Up (1.62%) 697.77DOW: Up (1.39%) 42,252.00NASDAQ: Up (1.59%) 21,305.75
FTSE: Up (0.80%) 8,787.37
In the Headlines:
Four ex-Volkswagen execs have been convicted of fraud over the Dieselgate scandal, nearly a decade after the emissions cheating came to light. Jail time and suspended sentences mark a sharp turn in one of auto's biggest corporate scandals.
And,The OECD flags Canada's economic growth at risk, calling out weak productivity and sky-high housing prices as major hurdles. Against a backdrop of trade uncertainty and punishing U.S. tariffs, the country faces mounting pressure to act fast.
Currencies Update: (Futures)
The Canadian dollar faded by 0.22% to $0.7247 U.S., still increasing by 0.11% to $0.6405 to the Euro, and Bitcoin sheds 0.15% to $150,891.30.
Commodities: (Futures)
Natural Gas: Up (11.73%), 3.72WTI: Down (0.51%), 61.19Gold: Down (1.52%), 3,291.90
Copper: Up (0.92%) 6.01
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Canada Standard
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India is fifth largest economy, their presence at G7 meeting 'makes sense'
Ottawa [Canada], June 7 (ANI): Canadian Prime Minister Mark Carney on Friday (local time) said that G7 countries will hold discussions on important issues, including security and energy, in their upcoming summit, adding that India's presence at the intergovernmental political and economic forum is essential. Carney said that India being the fifth largest economy and the most populous country in the world must be at the seat. 'Let's put the two aspects in context- first is, we are in the role- Canada's in the role of the G7 chair and in those discussions as agreed with our G7 colleagues, include important discussions on energy, security, on digital future, critical minerals amongst others and partnerships actually in building infrastructure in the emerging and developing world,' he said. Carney said that India is central to a number of supply chains, which makes its presence pertinent at the G7 chair consultation. 'There are certain countries that should be at the table for those discussions, and in my capacity as G7 chair, I will consult with some others to make those determinations. India is the fifth largest economy in the world, effectively the most populous country in the world, central to a number of those supply chains at the heart of a number of those supply chains, so it makes sense,' he said. Carney said that India and Canada are acting on law enforcement, and Prime Minister Narendra Modi has accepted his invitation. 'In addition, bilaterally we have now agreed importantly to continued law enforcement to law enforcement dialogue so there's been some progress on that recognizes issues of accountability I extended the invitation to Prime Minister Modi for in in that context and he has accepted it,' he said. PM Modi on Friday confirmed he would attend the upcoming Group of Seven (G7) leaders summit in Canada after an invitation from newly elected Canadian Prime Minister Mark Carney. 'Glad to receive a call from Prime Minister Mark J Carney of Canada. Congratulated him on his recent election victory and thanked him for the invitation to the G7 Summit in Kananaskis later this month. As vibrant democracies bound by deep people-to-people ties, India and Canada will work together with renewed vigour, guided by mutual respect and shared interests. Look forward to our meeting at the Summit,' he said in a post on X. The announcement comes after a period of severely strained relations between the two countries, triggered by Canadian allegations that Indian agents were involved in the June 2023 assassination of Hardeep Singh Nijjar--a Canadian citizen and prominent pro-Khalistan activist--outside a Sikh temple in Vancouver, as per DW News. India strongly denied the claims, and both nations expelled senior diplomats in a tit-for-tat escalation, DW News reported. (ANI)
Canada Standard
an hour ago
- Canada Standard
Daily World Briefing, June 7
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Canada Standard
an hour ago
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'India being invited to G7 Summit is fantastic development'
By Ravi Khandelwal Vancouver [Canada], June 6 (ANI): Canada needs to have a better relationship with India and move forward positively and the invitation to Prime Minister Narendra Modi by his Canadian counterpart Mark Carney for the G7 Summit is a 'fantastic development', a Canadian lawmaker said on Friday. In an interview with ANI, Dallas Brodie, a Canadian lawyer and MLA for Vancouver-Quilchena in British Columbia, also expressed concern at the Khalistani extremism, saying it is 'a significant problem' and most Hindus and Sikhs are not happy with the situation. In a veiled reference to the previous government in Canada led by Justin Trudeau, Dallas Brodie said that ties between India and Canada had seen a downslide and PM Mark Carney reaching out to India signals that 'they want to fix this dynamic' and 'is a very positive development'. 'Having India being invited to G7 Summit and our PM Mark Carney reaching out to India for this, is a fantastic a lot in common between our countries. Canada has the largest diaspora of Indian people in the move by the Prime Minister of Canada, Mark Carney, to reach out to India, is a very positive development. For the last several years, things have not been good. It's very negative. We need to have a better relationship with India and move forward positively. I think this signals that they want to fix this dynamic,' she said. Dallas Brodie said PM Modi's visit to Canada for the G7 Summit will strengthen ties between the two countries. The G7 Summit would be held at Kananaskis in Canada from June 15 to 17. PM Modi received a call from Mark J Carney, inviting him to attend the upcoming G7 Summit. 'Glad to receive a call from Prime Minister @MarkJCarney of Canada. Congratulated him on his recent election victory and thanked him for the invitation to the G7 Summit in Kananaskis later this month. As vibrant democracies bound by deep people-to-people ties, India and Canada will work together with renewed vigour, guided by mutual respect and shared interests. Look forward to our meeting at the Summit,' PM Modi said in a post on X. The Canadian lawmaker said India and Canada have a lot in common and that India is a huge market. Answering a query, she said Khalistani extremism is dangerous and scary for many people and it's time for deal with it firmly. 'The situation of Khalistani extremism is a significant problem. There's no question. Most Hindus and Sikh people in Canada are not happy with this situation. Hopefully, this will be discussed by the federal government with India. I'm in the provincial government in British Columbia, where there is a large, Khalistani movement. It's dangerous and scary for many people, and it's time for this to be dealt with firmly. I hope this will be discussed in meetings between, Prime Minister Mark Carney and India in the G7 meeting,' she said. Dallas Brodie said she is working towards the creation of a memorial for the victims of the Kanishka bombing. The AI-182 'Kanishka' bombing in 1985 was planned and executed in Canada. The dastardly attack claimed the lives of 329 innocent people (largely of India-origin), including 24 Indian nationals. Answering a query, the Canadian lawmaker said the terror attack in Pahalgam was sickening and Canada has to take a position on these kinds of things. 'I would imagine that this (subject of eliminating terrorism) is going to be top of mind for PM Modi and Canadian PM Mark Carney. I can't imagine that this issue would not be addressed between these two leaders. The attack on the tourists in Kashmir was sickening, and Canada has to take a position on these kinds of things and deal with this. I'm hoping this will be on the list of items that they deal with and I'm sure it will be,' she said. (ANI)
