Weak Chinese data renews hopes for more global stimulus
Editor's note: US exchanges, including the CME Group, were closed for MLK Day. Oil prices reflect Monday’s implied prices, based on electronic trading. Discounts on Canadian oil represent Friday closing price. No data provided for NYSE listings.
Today's equity market action:
- US markets and commodity exchanges were closed for MLK Day, making for very light trading volumes and little movement on the TSX. Markets were also quiet in Europe overnight.
- Chinese indices rose slightly on expectations of more government intervention in light of weak economic growth figures released over the weekend. Full year GDP growth slowed to 6.6% in 2018, down from 6.8% in 2017, the slowest expansion rate in almost three decades. The IMF also downgraded its 2019 global growth forecast to 3.5%.
- The TSX energy sector was roughly unchanged, as losses among energy service providers and larger cap producers offset gains in the other subsectors.
Today's notable energy news:
- The National Energy Board has approved TransCanada to begin winter clearing work on the North Spread of its Keystone XL pipeline, which runs from Hardisty to Consort, AB. South of the border, the projects still awaits the results of yet another environmental review from the US State Department, and the results of another court challenge in the state of Nebraska.
- Enbridge's Texas Eastern natural gas pipeline ruptured and exploded in Noble County, Ohio, on Monday. The blast damaged two homes and injured two people. The company has since shut in and isolated the damaged section of pipe. Texas Eastern transports gas from the US Gulf Coast to markets in the mid-Atlantic and Northeast. The line has been in service since the early 1950s.
|CURRENCIES & YIELDS|
|Suncor Energy||SU||43.28||▲1.9||35.53||55.47||D W|
|Imperial Oil||IMO||36.71||▼-1.3||33.43||44.91||D W|
|Husky Energy||HSE||16.70||0.0||13.33||22.99||D W|
|Pembina Pipeline||PPL||45.20||▼-0.3||37.60||47.84||D W|
|Inter Pipeline||IPL||21.40||▼-0.8||18.60||25.88||D W|
|Gibson Energy||GEI||20.01||▲0.1||15.68||23.32||D W|
|LARGE CAP E&P|
|Cdn Natural Res||CNQ||36.48||▼-0.1||30.11||49.08||D W|
|Cenovus Energy||CVE||10.62||▼-1.6||8.74||14.84||D W|
|Vermilion Energy||VET||33.03||▲1.1||26.67||50.46||D W|
|Pason Systems||PSI||21.07||▼-0.5||16.05||24.57||D W|
|Mullen Group||MTL||12.64||▼-1.4||11.39||16.93||D W|
|Secure Energy||SES||8.10||▲0.5||6.25||9.82||D W|
|REFINING & MARKETING|
|Parkland Fuel||PKI||37.26||▲0.6||27.36||47.45||D W|
UPDATED: DAILY (END-OF-DAY)
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