LIVE B.C. seeks ban on using drugs in 'all public spaces,' shifting approach to decriminalization
The B.C. government is moving to have drug use banned in 'all public spaces,' marking a major shift in the province's approach to decriminalization.
Energy helped to power Canada's main stock index higher to start the week as crude oil prices rose to a near three-month high and natural gas soared 10 per cent to the highest level since late 2013.
The S&P/TSX composite index closed up 60.76 points to 20,463.42 after hitting an intraday high of 20,503.83.
Colin Cieszynski, chief market strategist at SIA Wealth Management, attributed the continued energy pricing gains to an improvement in demand as the Delta variant is carrying less of a punch while oil supply is being constrained by OPEC and its allies.
"I think that people are probably thinking, 'Well, maybe we won't have the lockdowns that we had in the past' because particularly in the U.S., numbers did look like they've been turning the corner and so that certainly helps," he said in an interview.
The energy sector climbed 3.1 per cent with shares of Enerplus Corp. up 10.2 per cent, followed by Crescent Point Energy Corp. at 10.1 per cent, MEG Energy Corp. at 7.6 per cent and Whitecap Resources Inc. each at 7.1 per cent.
The November crude contract was up US$1.47 at US$75.45 per barrel and the November natural gas contract was up 53.1 cents at US$5.73 per mmBTU.
The more optimistic outlook also helped the transportation sector with Air Canada shares rising 3.5 per cent.
"That's a sector that had been hit pretty hard by the pandemic, so I think we are seeing some interest in some of the pandemic impacted sectors as well. Just probably a feeling that a Delta wave isn't going to have the impact on the economy that previous waves had," Cieszynski said.
The Canadian dollar traded for 79.13 cents US, its highest level in 11 trading sessions and compared with 78.86 cents US on Friday.
Health care gained 2.7 per cent led by Aurora Cannabis Inc., which gained seven per cent as it released quarterly results.
The heavyweight financials sector moved higher with shares of several Canadian banks increasing as the U.S. 10-year bond yield climbed above 1.5 per cent for the first time since the beginning of July. It reached a high of 1.517 per cent but ended the day below the threshold.
Materials was also higher despite flat metals prices.
The December gold contract was up 30 cents at US$1,752.00 an ounce and the December copper contract was up 0.4 of a cent at US$4.29 a pound.
In New York, stock markets were mixed. The Dow Jones industrial average was up 71.37 points at 34,869.37. Technology companies caused the S&P 500 index to lose 12.37 points at 4,443.11, while the Nasdaq composite was down 77.73 points at 14,969.97.
Contentious votes in Congress on infrastructure spending and raising the debt ceiling will continue to raise concerns before some sort of deal is likely, said Cieszynski.
In Canada, GDP and manufacturing PMI numbers come out on Friday. September jobs numbers aren't available until Oct. 8.
Cieszynski said the historically choppy month of September is winding down with the prospect that the fluctuations will continue into early October.
"We might still see some choppiness through until earning season picks up in a couple of weeks."
This report by The Canadian Press was first published Sept. 27, 2021.
The B.C. government is moving to have drug use banned in 'all public spaces,' marking a major shift in the province's approach to decriminalization.
The Canadian Transportation Agency has hit a record high of more than 71,000 complaints in a backlog. The quasi-judicial regulator and tribunal tasked with settling disputes between customers and the airlines says the backlog is growing because the number of incoming complaints keeps increasing.
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
After the Assembly of First Nations' national chief complained to Air Canada about how staffers treated her and her ceremonial headdress on a flight this week, she says the airline responded by offering a 15 per cent discount on her next flight.
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
An American Airlines flight attendant was indicted Thursday after authorities said he tried to secretly record video of a 14-year-old girl using an airplane bathroom last September.
Philadelphia 76ers All-Star centre Joel Embiid has been diagnosed with Bell’s palsy, a form of facial paralysis he says has affected him since before the play-in tournament.
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.