Global markets: Canada’s national net worth weakens in Q1

By Commodity News Service Canada

WINNIPEG, June 14 – The following is a glance at the news moving markets globally.

CANADA’S NATIONAL NET WORTH DECLINES IN FIRST-QUARTER
National net worth declined 1.5 per cent, or C$144.7 billion, to C$9,571 billion at the end of the first quarter. This was mainly due to a decrease in the market value of financial assets held abroad, as Canada’s net foreign asset position fell in the first quarter. On a per capita basis, national net worth was C$265,200 compared with C$269,500 in the fourth quarter, Statistics Canada said in a report on Tuesday.

According to StatsCan, national wealth, the total value of non-financial assets in the Canadian economy, rose C$75.6 billion to C$9,306 billion at the end of the first quarter. The main contributor to growth was a C$105.2 billion increase in the value of real estate. This was partially offset by a C$36.0 billion decline in the value of natural resource wealth, as energy prices continued to decrease.

UK INFLATION HOLDS STEADY IN MAY
British consumer prices gained 0.3 per cent in May, compared with the same time frame a year prior, Statistics Canada said in a report on Tuesday.

Food and beverage prices were one source of pressure, analysts say.

CANADIAN REFINERY RECEIPTS INCREASE
Canadian refineries received 8.8 million cubic metres of crude oil in March, an increase of 4.3 per cent from the same month the previous year, Statistics Canada said in a report on Tuesday.

Over the same period, refinery receipts of domestic crude oil rose 9.9 per cent to 6.1 million cubic metres.

Crude oil imports fell 6.5 per cent to 2.7 million cubic metres in March, representing 30.7 per cent of total crude oil received at refineries in Canada.

Crude oil held at refineries rose 15.2 per cent to 4.1 million cubic metres compared with the same month the previous year.

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