Canada Market Wrap
Action Economics noted Canadian equities opened slightly higher after the rebound in crude oil above US$35 bbl, but also noted crude has since slipped back again, saying conditions could remain very choppy heading into the weekend amid futures and options settlements. According to AE, the round of weak CPI and wholesale shipments data underscored the Canadian economy's fragility, while USD-CAD briefly cleared 1.40 - 11-year highs - before pulling back with the swing in oil. The S&P/TSX was 0.25% higher having found a foothold above 13,000 again following yesterday's slump, though AE noted Wall Street has veered to the south again, which could keep a lid on the TSX into 13,100-13,182. BlackBerry (BB.TO) bested earnings forecasts and saw its shares surge, while RioCan (REI-UN.TO) sold its U.S. assets for $2.7 billion.
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