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The Canadian Press
EU welcomes Kosovo cut to Serbia tariffs, US says not enough
TIRANA, Albania — Kosovo's decision to partially lift a 100% tariff on Serbian goods was hailed Friday by the European Union but not supported by the United States, which wants the tariff dropped completely.Prime Minister Albin Kurti on Thursday said the measure would come into effect from March
The Canadian Press
S&P/TSX down more than 500 points as trading resumes after outage Thursday
TORONTO — Canada's main stock index plunged at the open as trading resumed on the Toronto Stock Exchange after it was halted early Thursday afternoon due to a technical issue.The S&P/TSX composite index was down 529.83 points at 16,187.61.Trading on Thursday was suspended early after what TMX Group
Reuters
Canada economy puts in worst performance in almost four years as woes bite
Canada's economic growth slowed to an annualized rate of 0.3% in the fourth quarter, the worst performance in almost four years, thanks in part to strikes, bad weather and shutdowns, Statistics Canada said on Friday. The number matched both the forecast of analysts in a Reuters poll as well as the
Bloomberg
Yen and Euro Stage World-Beating Rallies in Week of Market Chaos
(Bloomberg) -- The yen and euro have emerged as the currency world’s winners in one of the most painful weeks for global markets in decades.The Japanese currency advanced 2.6% in the five days through Friday, set for its best weekly gain since 2016 and the biggest increase among major peers globally.
Reuters
Eurogroup's Centeno: euro zone "ready to act" on coronavirus impact if needed
Euro zone states must be prepared to act in a coordinated way if the coronavirus epidemic proves more than a temporary shock to the bloc's "resilient" economy, the chairman of euro zone finance ministers Mario Centeno told Reuters on Friday. Centeno, who is Portugal's finance minister
Reuters
Italy's ruling 5-Star pushes against any LSE break-up of Milan Bourse
ROME/MILAN (Reuters) - Italy must block any attempt by the London Stock Exchange to break up the Milan Bourse as it seeks antitrust approval for its $27 billion acquisition of analytics company Refinitiv, a lawmaker from the ruling 5-Star Movement told Reuters on Friday. Davide Zanichelli of the lower
Bloomberg
Europe's Coronavirus Plan Is Not Enough
(Bloomberg Opinion) -- The economic damage from the Coronavirus epidemic has prompted calls for Europe to relax its fiscal rules to allow governments to cut taxes and increase spending. The European Commission seems to agree: Paolo Gentiloni, its economy tsar, has hinted that affected governments — such
Reuters
Virus panic sends yen to seven-week high against dollar
The Japanese yen hit a seven-week high against the U.S. dollar and was on track for its largest daily gain since May 2017 as investors nervous about the spread of the coronavirus in the United States piled into the safe-haven currency. Measures to contain the virus have wreaked havoc on supply chains
The Canadian Press
TSX plunges before trading halt while U.S. on path to worst week since 2008
TORONTO — Canada's main stock index plunged for a fifth straight day before trading was prematurely halted while U.S. markets were in correction territory on the path to their worst weekly performance since the financial crisis.The S&P/TSX composite index was down 324.48 points or 1.9 per cent at
Baystreet
TSX Shares in Downward Momentum
(CONTAINS CHANGE, TSX FINISHED NEGATIVE, NOT POSITIVE) The general gloom on equity markets pervaded ...
Reuters
Blowout fear for forex markets as coronavirus stirs dormant volatility trades
With this week's coronavirus-driven rout having shaken awake previously slumbering euro-dollar markets, the spotlight is back on the "short volatility" trades that some regulators fear could trigger a blowup on world markets. The world's most traded currency pair, comprising a quarter
Baystreet
Stocks Sink to 5-Mo. Low on Virus Fears
Canada's main stock index hit a near five-month low on Thursday as the coronavirus' spread outside China ...
Bloomberg
Traders Ditch Loonie as Virus Sparks Fear Ahead of Rate Decision
(Bloomberg) -- Even on a day when the U.S. dollar is getting hammered from all sides, the loonie can’t catch a break.Traders are abandoning the Canadian dollar as coronavirus fears confound global markets, clouding the outlook for the commodity-linked currency. Investors are also concerned prolonged
Bloomberg
Asia’s Currencies Rally, Casting Doubts Over Dollar Haven Status
(Bloomberg) -- Everyone’s favorite haven currency is having a rough day.The dollar is down against most Group-of-10 and Asian peers, including the yuan in China, where the coronavirus originated. It’s being weighed down by rising speculation among investors that the U.S. will lower borrowing costs this
Reuters
Dollar falls, euro has best day since May 2018
The dollar fell on Thursday as investors bet the Federal Reserve would cut interest rates to offset the impact of the spreading coronavirus, giving the euro its largest daily gain since May 2018. Expectations for a European Central Bank rate cut have also risen. "Rate cut expectations have gained
The Canadian Press
TSX gains in 2020 wiped away after fourth triple-digit decline in a row
TORONTO — Canada's main stock index saw all of this year's gains wiped away Wednesday with a fourth day of triple-digit declines over concerns about the impact of the novel coronavirus outbreak.The S&P/TSX composite index closed down 135.45 points at 17,041.92, below where it ended 2019 at 17,063.43
Baystreet
Triple-Digit Losses for Markets (Again!)
The woes continued on Wednesday for Canadian stock markets, just as it looked like a recovery was ...
Reuters
Loonie hits two-week low as coronavirus hits commodity producers' outlook
The Canadian dollar weakened to a two-week low against its broadly stronger U.S. counterpart on Wednesday as investors bet that the spreading coronavirus outbreak would hurt the economies of commodity producing countries. At 12:36 p.m. (1736 GMT), the Canadian dollar was trading 0.2% lower at 1.3313
Baystreet
TSX Recovers from Virus-Driven Selloff
Canada's main stock index rose on Wednesday, recovering from a more than 4% loss over the past three ...
Baystreet
Stocks Flat, on Attempted Recovery
Canada's main stock index were down only slightly Wednesday, recovering from a more than 4% loss over ...
Bloomberg
FX Traders Hunting for Certainty Pile Into Bets on Volatility
(Bloomberg) -- When in doubt, buy volatility.The old adage is holding strong, even as traders struggle to identify which currencies might offer the best shelter in times of upheaval. Bets that there will be price swings may look appealing, in particular as implied volatility in foreign-exchange hasn’
Baystreet
Futures Make Small Climb
Futures for Canadian stocks edged higher on Wednesday, supported by spot gold, as the coronavirus scare ...
Reuters
Too early for the ECB to contemplate coronavirus response: Makhlouf
It is too early for the European Central Bank to assess whether it needs to respond to the coronavirus epidemic with policy, even if the epidemic presents a risk to growth, Irish central bank chief Gabriel Makhlouf said on Wednesday. "I still think it is too early to come to a view on what we at
Reuters
Dollar rises with stocks, investors stay cautious
The U.S. dollar rebounded on Wednesday from a two-week low hit in the previous session in step with U.S. equity markets, though moves were muted as investors remained cautious as the coronavirus continues to spread. "We're still fixated on equity market moves," said Shaun Osborne, chief
The Canadian Press
TSX has worst day since 2015 in bloodbath on concerns about coronavirus
TORONTO — Canada's main stock index suffered its worst day in four-and-a-half years as it fell by triple digits for a third straight day amid growing concerns about the impact of the novel coronavirus outbreak.The S&P/TSX composite index closed down 385.37 points or 2.2 per cent at 17,177.37, the