Gold rush boosts TSX despite weakness for banks... Young Canadians will be worse off financially than their parents... Basic income nationwide would cost $15 billion...
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Gold rush boosts TSX despite weakness for banks
The main TSX index closed higher Wednesday as gold prices boosted miners’ stocks and lifting the materials sector group by more than 3.5 per cent.
Oil was also stronger by the end of the session following a slide overnight. The gains helped the energy sector group rise almost 2 per cent.
Healthcare, utilities and telecoms also gained while consumer staples led five sectors lower including the financial group as banks slipped ahead of a BoC financial sector review to be released Thursday.
Wall Street closed lower along with European indexes; an ECB interest rate decision and UK general election are among the issues weighing. Asian indexes were mixed on geopolitics and regional matters.
The S&P/TSX Composite Index closed up 54.78 (0.36 per cent)
The Dow Jones closed down 47.81 (0.23 per cent)
Oil is trending higher (Brent $50.29, WTI $48.39 at 4.35pm)
Gold is trending higher (1296.20 at 4.35pm)
The loonie is valued at U$0.7436
Young Canadians will be worse off financially than their parents
Today’s young Canadians will be less well off financially than their parents according to a poll by the Pew Institute.
The global survey found that 59 per cent of Canadians say the current economic situation in the country is good, well below the highest-placed Netherlands (87 per cent) and others such as Germany (86 per cent) and Australia (60 per cent); but above the US (58 per cent), UK (51 per cent) and France (21 per cent).
However, on the subject of their children’s financial future compared to their own, just 20 per cent thought it would be better, compared to 32 per cent in the US and 34 per cent in Germany.
Basic income nationwide would cost $15 billion
The basic income trial being tested in Ontario would cost $15 billion a year if it were rolled out nationwide.
The Northern Policy Institute says that would be the net cost to give individuals $17,000 a year and couples $24,000 a year, due to basic income replacing existing welfare programs. The gross cost would be around $30 billion a year.
The main TSX index closed higher Wednesday as gold prices boosted miners’ stocks and lifting the materials sector group by more than 3.5 per cent.
Oil was also stronger by the end of the session following a slide overnight. The gains helped the energy sector group rise almost 2 per cent.
Healthcare, utilities and telecoms also gained while consumer staples led five sectors lower including the financial group as banks slipped ahead of a BoC financial sector review to be released Thursday.
Wall Street closed lower along with European indexes; an ECB interest rate decision and UK general election are among the issues weighing. Asian indexes were mixed on geopolitics and regional matters.
The S&P/TSX Composite Index closed up 54.78 (0.36 per cent)
The Dow Jones closed down 47.81 (0.23 per cent)
Oil is trending higher (Brent $50.29, WTI $48.39 at 4.35pm)
Gold is trending higher (1296.20 at 4.35pm)
The loonie is valued at U$0.7436
Young Canadians will be worse off financially than their parents
Today’s young Canadians will be less well off financially than their parents according to a poll by the Pew Institute.
The global survey found that 59 per cent of Canadians say the current economic situation in the country is good, well below the highest-placed Netherlands (87 per cent) and others such as Germany (86 per cent) and Australia (60 per cent); but above the US (58 per cent), UK (51 per cent) and France (21 per cent).
However, on the subject of their children’s financial future compared to their own, just 20 per cent thought it would be better, compared to 32 per cent in the US and 34 per cent in Germany.
Basic income nationwide would cost $15 billion
The basic income trial being tested in Ontario would cost $15 billion a year if it were rolled out nationwide.
The Northern Policy Institute says that would be the net cost to give individuals $17,000 a year and couples $24,000 a year, due to basic income replacing existing welfare programs. The gross cost would be around $30 billion a year.
