Global markets: Canada’s retail sales increase

By Commodity News Service Canada

WINNIPEG, June 22 – The following is a glance at the news moving markets globally.

CANADA’S RETAIL SALES GAIN IN APRIL
Following a 0.8 per cent decline in March, retail sales rose 0.9 per cent to C$44.3 billion in April. Sales were up in 7 of 11 subsectors, representing 64 per cent of total retail sales, Statistics Canada said in a report on Wednesday.

According to StatsCan, higher sales at gasoline stations were the main contributor to the gain. Excluding sales at gasoline stations, retail sales advanced 0.4 per cent.

After removing the effects of price changes, particularly higher gasoline prices, retail sales in volume terms were relatively flat in April.

‘BREXIT’ COULD CAUSE BANKS TO RELOCATE
A ‘leave’ vote in a referendum, which would dictate whether or not Britain stays in the European Union, could cause banks to relocate out of London, market watchers said on Wednesday.

Banks and investment funds would be likely to shift their activities to Frankfurt and Paris, reports say.

The ‘Brexit’ vote happens on Thursday.

IRAN APPOINTS NEW OPEC ENVOY
Iran has appointed a new representative for new representative at the Organization of the Petroleum Exporting Countries (OPEC).

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