Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Aug. 23 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– At nearly C$2.6 billion in profits during the third quarter, the Bank of Nova Scotia reported on Tuesday that’s almost a two per cent improvement over the same quarter a year ago. Scotiabank was the first of Canada’s six big banks to make their quarterly report. The bank also said its profits from its Canadian banking unit increased 12 per cent at more than C$1.2 billion as higher interest rates boosted its net income. Tomorrow the Royal Bank of Canada and the National Bank of Canada release their quarterly reports. Then the Canadian Imperial Bank of Commerce and the Toronto-Dominion Bank follow on Thursday with the Bank of Montreal on Friday.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Crude oil prices were on the increase on Tuesday after Saudi Oil Minister Prince Abdulaziz bin Salman commented OPEC+ might have to cut back production to stabilize the global market. Not only has the crude market been volatile during the COVID-19 pandemic, but the Russian invasion of Ukraine added more chaos to it. OPEC and its oil-producing allies will meet in September to lay out their production targets.
– Ukraine denied on Tuesday any involvement in the car bombing that killed Russian journalist Darya Dugina on Sunday. Dugina and her father, philosopher Alexander Dugin, are vocal Russian nationalists who propagate the idea of “Novorossiya,” a new Russian empire. The Russian Federal Security Service said it solved the case, stating a Ukrainian agent stalked Dugina and planted the bomb before escaping to Estonia. Ukraine President Volodymyr Zelensky warned that Russia could seek retribution during the country’s two-day holiday marking its independence from the former Soviet Union.
