WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Ukrainian President Volodymyr Zelensky will deliver a virtual address to Canada’s House of Commons on Tuesday, where it is expected he will urge the government to add new sanctions and to convince NATO to implement a no-fly zone over Ukraine. The address comes hours after Russian forces began artillery strikes on the Ukrainian capital of Kyiv. The shelling hit an apartment building and shockwaves damaged a subway station that was used as a bomb shelter. While talks are expected to resume between representatives of both Russia and Ukraine, Czech Prime Minister Petr Fiala, Slovenian PM Janez Jansa, Polish PM Mateusz Morawiecki and his deputy PM Jaroslaw Kaczynski will travel to Kyiv on Tuesday to show their support for Ukraine.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– In the face of the rise of new COVID-19 infections, Chinese authorities on Tuesday tightened controls at ports and shut down auto and electronics factories. Bus and subway services in the cities of Shenzhen and Changchun have been suspended while non-essential businesses have been closed. Most people entering Shanghai will need to get tested for the virus.
– The London Metal Exchange (LME) will resume nickel trading on Wednesday more than a week after a short squeeze caused trading to be suspended. Xiang Guangda, the tycoon responsible for the squeeze, has secured a standstill agreement with banks to avoid further margin calls. After LME stopped nickel trading, it cancelled US$3.9 billion in transactions when prices doubled to US$100,000 per ton.
