Global Markets: Boris Johnson top contender for old PM job

By MarketsFarm

WINNIPEG, Oct. 21 – The following is a glance at the news moving markets in Canada and globally.

– Former British Prime Minister Boris Johnson is a leading contender to replace Liz Truss as leader of the Conservative Party, with former finance minister Rishi Sunak also expected to be in the running. The winner in the shortened leadership race will be announced next week, with candidates needing to secure 100 votes from Conservative lawmakers by Monday. Truss quit Thursday after just six weeks in power.

– Pakistan’s former Prime Minister Imran Khan has been found guilty of ‘corrupt practices’ by the country’s election commission, disqualifying him from being a member of parliament. Members of his party rejected the ruling and called on supporters to protest. Khan was ousted from his position in April after a vote of no confidence.

– Canadian retail sales were up by 0.7 per cent in August, hitting C$61.8 billion, according to a report from Statistics Canada. Core retail sales, which exclude gasoline stations and motor vehicle retailers, were up by 0.9 per cent, the largest increase in five months. Early data for September showed wholesale sales were down by 0.2 per cent on the month.

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