WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Both Russian and Ukrainian forces have made gains in various regions of Ukraine over the weekend. A Ukrainian battalion released a video on Sunday reaching the Russian border in the Kharkiv region where Russian forces are retreating. However, Russian missiles hit a chemical plant and 11 high-rise buildings in the Donbas region, as well as military facilities in the Yakoriv district near the Polish border. Finland and Sweden both announced last weekend they will seek NATO membership. On Monday, both McDonald’s and Renault said they are selling their Russian operations.
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– The Canada Mortgage and Housing Corporation reported that the annual rate of house construction rose eight per cent in April compared to March, with 267,330 units. The annual rate of urban housing starts rose 10 per cent to 245,324 in April.
– Hezbollah and its allies suffered losses in Lebanon’s parliamentary elections, according to early results on Monday. The Christian Lebanese Forces party, backed by Saudi Arabia, as well as independents increased their presence in the legislature, but Hezbollah and the Amal group are likely to retain their 27 seats allocated to the Shia Muslim population. This was the first national election since an economic crisis in October 2019 and a massive chemical explosion at a port in Beirut in August 2020.
