The Globe and Mail reports in its Monday, May 1, edition that when the United States government resurrected
the softwood-lumber
dispute with a 20-per-cent tariff,
it actually sparked a relief rally in
Canadian forestry by investors
who had feared a more severe
penalty. The Globe's Tim Shufelt writes that Canfor and West
Fraser Timber were the
top performing stocks on the
main Canadian index on Wednesday,
with shares in the latter still
buoyant from an earnings beat
two days prior.
The Trump administration also
jostled Canadian markets with a
threat to pull out of NAFTA, followed
by a swift reversal.
Relief on the trade front was
short lived, however, when the
country's largest alternative-mortgage
lender, Home Capital
Group, announced it needed
a financial lifeline as its depositors
continue to pull their money.
Home Capital's crisis rippled
through the Canadian financial
sector on Thursday, from comparable
lenders right up to the biggest
banks. Home Capital is on
the docket to report quarterly
earnings this Wednesday, though
that could easily change.
© 2024 Canjex Publishing Ltd. All rights reserved.