By Commodity News Service Canada
WINNIPEG, Nov. 23 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.
– The Canada Pension Plan Investment Board is acquiring a large stake of a prominent insurance and financial group. Under the terms of the agreement, the board assumes a 30 percent share of BGL Group. The deal should be complete by April.
– With U.S. markets closed for Thanksgiving, a general slowdown took hold of other markets around the globe. China’s Shanghai Composite Index and South Korea’s Kospi both dipped while stocks in Singapore inched slightly higher.
– Canadian retail sales eked out tiny gains in September. Sales rose 0.1 percent to C$49.1 billion with much of the increase coming from higher gas prices. Analysts say this could set the stage for a slowdown in economic growth as the rise was much smaller than the market expected. On a year-over-year basis, nominal retail sales rose 6.2%.