Canada Stocks Edge Higher as Oil Surges on U.S. Stockpile Drop

(Bloomberg) — Energy producers dragged Canadian shares to a slight gain after a rally in crude oil sent the group surging by the most since June. The S&P/TSX Composite Index rose less than 0.1 percent to 14,803.26 at 4 p.m. in Toronto, with nine of 10 groups retreating. Energy shares jumped 2.3 percent to close at the highest level in more than a year.The rally in oil producers helped Canadian shares rebound after yesterday halting a three-day rally of 1.5 percent as the Bank of Canada warned of weaker inflation and economic growth prospects. The group has carried gains in the past …
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CANADA STOCKS-TSX firms as gains for energy offset broader losses

(Adds analyst quotes and details on Manulife, ECB and housing
starts, updates prices)* TSX closes up 6.51 points, or 0.04 percent, at 14,803.26* Energy is only one of 10 major sectors to gainBy Fergal SmithTORONTO, Sept 8 Canada’s main stock index edged
higher on Thursday as an oil price-driven rally in energy stocks
offset broader losses for the market.The heavyweight energy group climbed nearly 2 percent, the
only one of 10 major sectors to gain.”It is the energy sector that’s propping up the TSX today.
That’s on the huge rally we are seeing in energy prices,” said
Colin Cieszynski, senior market analyst at CMC Markets …
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Canada economic growth uneven – central bank official

(Adds comments on exports, housing market, household debt)By Xiaoli Li Canada’s economy is
still running on two speeds, with household spending growth
holding up even as sectors linked to low commodity prices
struggle, Bank of Canada Deputy Governor Timothy Lane said on
Thursday.Lane reiterated the central bank’s cautious take on Canada’s
tepid economy a day after it held interest rates steady and
struck a dovish tone in its statement.While more new firms were starting up and jobs being created
in the United States, investment in Canada’s key energy sector
has shrunk rapidly, he said.

Lane said policymakers …
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Canadian housing starts fall in August- CMHC

Canadian housing starts fell in
August compared with July, data from the national housing agency
showed on Thursday.

The seasonally adjusted annualized rate of housing starts
fell to 182,703 units in August from a 194,663 rate in July.
Multiple urban starts fell by 7.3 percent to 111,378 units,
while single-detached urban starts dropped by 3.7 percent to
56,501 units.

(Reporting by Fergal Smith; Editing by Chizu Nomiyama)

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Bank of Canada warns of risks to growth, holds rates steady

(Recasts, adds from bank statement, economist comment)By Andrea Hopkins and Leah Schnurr The Bank of Canada warned on
Wednesday that the economy could be weaker than it anticipated
just two months ago as exports disappointed, but the central
bank held rates steady as it stuck to a forecast that growth
will bounce back in the second half.In a statement that was bleaker than the market had
expected, the bank also said the U.S. outlook for business
investment has become less certain, despite a healthy labor
market and solid consumption.”Exports disappointed even after accounting for weaker
business and residential investment in the United States,
adjustments in the resource sector, and cutbacks in auto
production,” the bank said in the statement.

Canada is counting on U.S. demand to boost exports and lift
Canada’s economy out of the malaise as slumping commodity prices
hurt the key resource sector. …
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Poloz Sees Lost Ground on Growth, Holds Canada Rates Steady (1)

(Bloomberg) — Bank of Canada policy makers said risks of weak inflation and slower economic growth have increased, a message that contrasts with recent gains in output and exports.“On balance, risks to the profile for inflation have tilted somewhat to the downside since July,” when the last rate decision was made, policy makers led by Governor Stephen Poloz said in a statement.That marks a change from the previous statement, in which policy makers said the risks to the inflation profile were “roughly balanced.” Policy makers kept the benchmark rate on overnight loans between commercial banks at 0.5 percent, as anticipated by all 25 economists surveyed by Bloomberg.Wednesday’s statement downplays two key reports last week that showed the months-long gloom in the Canadian economy may be abating: merchandise exports surged 3.4 percent in July, narrowing a record trade deficit, and gross domestic product rose 0.6 percent in June, topping forecasts.“We …
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Tom Mulcair unlikely to return to parliament as NDP leader after low profile during summer

A year ago, polls predicted Tom Mulcair would be Canada’s next prime minister. But with the New Democrats dredging new lows in recent public surveys, party sources now suggest it is highly unlikely he will return to the House of Commons later this month as leader.
Mulcair announced at the NDP’s national convention in Edmonton last April that he would resign, after 52 per cent of delegates voted for a change in leadership. But he said he would remain in the top job on an interim basis until a replacement was chosen next October.
However, multiple party sources have expressed disquiet at the low profile Mulcair kept over the summer, avoiding public appearances on Canada Day, St-Jean-Baptiste Day and at Pride Toronto.
A number of current and former NDP MPs confirmed that discussion about giving Mulcair “an ultimatum” has carried on throughout the summer at senior party levels, and  …
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Canada hopes to supply more uranium

Canada was hopeful of reaching agreement to supply energy-hungry and fast-growing India with more uranium than the 3,000 metric tonnes that has already been agreed upon, Canadian Natural Resources Minister Jim Carr said on Wednesday.

“So long as [bilateral] negotiations continue and Canada can supply enough to meet India’s needs, there is every good reason to be optimistic” about Canada supplying more than 3,000 metric tonnes of uranium to fuel India’s nuclear power plants, Mr. Carr told reporters here on Wednesday.

In April last year, during Prime Minister Narendra Modi’s visit to Canada, a pact was inked for Canada’s Cameco to supply India 3,000 metric tonnes of uranium over five years at an estimated cost of $254 million. Asked about the possibility of more uranium supplies, Mr.Carr said it depended on the continuing conversations and bilateral negotiations between Canadian business leaders and Indian officials. The Canadian government is an …
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Democracy and Populism versus Two-Tone politics

Ladies and Gentlemen, the Old Party Divide is not sexy any more; the old two-tone politics, supposedly left and right of center but really, right and far-right of center has failed and today ceases to represent the people. The people are leaning more and more to popular and populist parties which clamor for change. The two-party system is over.

It started as a ripple with nationalist parties in Europe, representing local interests against national plans forged by some faceless multi-state entity which nobody voted for and which did not represent the people. The ripple grew into a wave, the first symptoms of which were Obama’s twin election victories as first he claimed to represent change and then said he would represent change some day. Today the wave has formed a tsunami, locking Spain into a political wrestling match which it appears nobody can win, it sees populist parties getting ever …
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In Legislative Council Elections, Hong Kong Votes Against Chinese Regime

In 2014, hundreds of thousands of Hong Kong residents protested Beijing’s denial of genuine democratic reform for the semiautonomous territory. But the Chinese communist regime yielded no quarter to the mostly youthful Hongkongers who occupied major roads in the city for nearly three months.
The spirit of Hong Kong’s pro-democracy movement, however, appears to have endured.
Youthful protesters became politicians, campaigning on local issues and Hong Kong’s political future. Millions of Hongkongers, dissatisfied with Beijing’s continued encroachment on Hong Kong’s freedoms, went to the polling booths and elected several new pro-democracy candidates for the city’s legislature.
Analysts say that the turnout and results of Hong Kong’s Legislative Council elections reflects a changing of the guard in the pro-democracy camp. Hongkongers, analysts add, appear to reject outright calls for independence by radical politicians and firmly reject the Chinese Communist Party’s influence.
How Hong Kong …
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