Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Canada’s economy exceeded expectations by adding 25,000 jobs in November, but the unemployment rate still went up 0.1 of a point during that month to 5.8 per cent, according to a Statistics Canada (StatCan) report released on Friday. Manufacturing and construction had the biggest job gains, while wholesale and retail trade lost the most jobs. The report also mentioned that unemployed people last month were more likely to be laid off compared to one year earlier.
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– A seven-day truce between Israel and Hamas ended on Friday with the resumption of fighting minutes after the ceasefire expired. Israel claimed Hamas of violating the truce, while Hamas accused Israel of declining offers to free more hostages. More than 100 hostages taken by Hamas were freed during the halt in fighting, as well as 240 Palestinian prisoners. So far, 1,200 Israelis have been killed in the conflict since it began on Oct. 7, as well as more than 13,300 Palestinians.
– Canadian banks reported their fourth quarter earnings earlier this week, with Royal Bank of Canada (RBC), National Bank of Canada and CIBC presenting a larger Q4 profit compared to last year. TD Bank and BMO Financial Group also reported profits for the quarter, but theirs were down from one year ago.
