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HomeBusiness ReportAFTER THE BELL: Loonie lifts on StatsCan report, flat day on TSX

AFTER THE BELL: Loonie lifts on StatsCan report, flat day on TSX

Some positive news from Stats Canada today, as the country posted its smallest trade deficit since January 2017.

The news helped the TSX finished slightly above water, up 14 points to 16,423 despite ongoing fears of a U.S./China trade tariff war.

The positive results came from gains in the materials and utilities sectors, but losses in the energy and industrials sector kept gains in check.

In the U.S., the Dow ended 127 points higher at 25,453 while the Nasdaq was relatively flat, up nine points to 7, 812.

Oil rebounded slightly from Wednesday’s six-week low, before finishing 35 cents lower to $68.61 US per barrel while gold traded $1.30 higher at $1,214 an ounce.

And the StatsCan report helped push the loonie up 22/100ths of a cent to 77.01 cents US.

On the trade war front, China has a retaliatory plan in place, if the U.S. follows through with its threat of slapping tariffs on $200 billion of Chinese goods.

On Friday, China announced it would be forced to take countermeasures in the form of new tariffs on $60 billion worth of U.S. goods. if the Trump administration decides to impose 25-percent duties on Chinese goods.

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