Compiled by Glen Hallick, MarketsFarm
WINNIPEG, May 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Ukraine issued a claim on Monday that Russian forces are beginning to redeploy from the besieged port city of Mariupol to the country’s east. The claim was supported by the Washington, D.C.-based Institute for the Study of War. It’s believed Russia is setting up for a major offensive in the Donbas and Luhansk regions. Also, Russia continued to target key Ukrainian infrastructure with missiles, taking out a runway at the Odesa airport and a railway bridge.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Ramped up COVID-19 restrictions in China have raised more concerns about the country’s demand for imports. China said on Sunday that manufacturing backtracked to a six-month low in April. Due to strict lockdowns last month in Shanghai and other cities there were contractions in almost every economic sector, except for construction.
– South African President Cyril Ramaphosa was whisked away from a May Day rally for striking mine workers in Rustenburg on Monday, about 130 kilometers northwest of Johannesburg. The workers are demanding the equivalent of a US$63 per month wage increase, while the mining company, Sibanye-Stillwater, countered with US$54. The miners reportedly turned angry after Ramaphosa, a former labour organizer, told them to calm down. Days ago, tensions during the strike rose sharply after it was reported the company’s CEO, Neal Froneman, was paid US$19 million in 2021.
