Global Markets: Russian missile strikes

By MarketsFarm

WINNIPEG, Oct. 11 – The following is a glance at the news moving markets in Canada and globally.

– Deadly Russian missile strikes on numerous Ukrainian targets over the past few days marked the largest escalation of the conflict in months, with targets including parks and tourist destinations. The missile strikes came in apparent retaliation to an explosion that damaged a bridge between Crimea and Russia. G7 leaders will be meeting remotely on Tuesday to discuss increasing their support to Ukraine, with air defence systems said to be the “number one priority.”

– The International Monetary Fund (IMF) is warning that “the worst is yet to come” for the world economy, citing the war in Ukraine as a major factor behind the downgraded economic outlooks. For Canada, the IMF sees economic growth slowing to 1.5 per cent in 2023, from an estimated 3.3 per cent in 2022 and 4.5 per cent in 2021.

– Negotiators with Israel and Lebanon have reached an agreement to end a long-term maritime border dispute between the two countries. The deal was being called ‘historic’ by representatives of both sides, as Israel and Lebanon technically remain at war.

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