Global Markets: Conservatives face internal revolt

By MarketsFarm

WINNIPEG, Feb. 1 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Internal disagreements in Canada’s opposition Conservative Party could see a leadership vote on Erin O’Toole as early as Wednesday, according to reports. A vote of 50 per cent plus one of the 119 sitting Conservative Members of Parliament would force O’Toole to step down and be replaced by an interim leader. In a Facebook post, O’Toole said he had no plans to step down.

– Protestors continue to blockade a major border crossing between Canada and the United States in southern Alberta. Ostensibly over federal vaccine mandates for truckers, the demonstration has halted traffic since Saturday, Jan. 29. The Canadian Meat Council warned that the closure would impact production, with over 150 loads of Canadian beef reportedly stuck at the border. Some protestors also remain in Ottawa, hampering movement through the nation’s capital.

– Diplomatic efforts to ease the tensions between Russia and Ukraine continued on Wednesday, with United Kingdom Prime Minister Boris Johnson in Kyiv to speak with Ukrainian President Volodymyr Zelenskyy. Russian President Vladimir Putin is speaking with Hungary’s Prime Minister Victor Orban in Moscow, while U.S. and Russian officials are also set to speak by phone.

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