BEFORE THE BELL: Investor sentiment eased by positive trade news, Brexit delay; Air Canada shares slip on massive delays
A few good news pieces in the economic world are helping boost investor sentiment today. A recent report suggests trade talks between the US and China are making progress, however the good news was muted a bit after reports suggested Donald Trump isn’t likely to sit down with his Chinese counterpart this month.
And investors are also breathing a sigh of relief as Britain’s divorce from the EU may be slowed at least, after lawmakers voted to allow Theresa May to extend Brexit.
Air Canada shareholders are feeling anything but relief as the company’s stock drops on reports of massive delays. The airline has lost access to dozens of jets, affecting flights for thousands of customers daily after Ottawa grounded all Boeing 737 Max 8s. It has warned the delays are likely to last weeks.
Meanwhile, the price of crude is slowing down in its recent rally, still gaining to 58-79 a barrel as investors continue to feel positive about OPEC-led production cuts around the globe.
The energy-tied Loonie is pushing to 75.14 a barrel.