MID-DAY: TSX gains on big bank boom; Hydro One shares slide following house cleaning
Bay Street is getting a health boost by the financial sector today.
As Canada’s Big Banks raise primary lending rates, financial shares are climbing, giving life to the TSX as it climbs 125 points to 16,542.
But, investors aren’t happy with the recent slate cleaning at Hydro One after the board and CEO stepped down under political pressure. Hydro One shares are dropping 4 per cent following yesterday’s announcement.
Across the border the Dow is recovering from a selloff yesterday as trade war fears started growing. However investors appear to be shrugging it off as the Dow gains 148 points to 24,848.
Oil is sliding again after taking a major dip yesterday, down to 69.40 a barrel.