Global Markets: National Bank of Canada posts Q4 gains

By MarketsFarm

WINNIPEG, Dec. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Montreal-based National Bank of Canada reported fourth quarter profits totalling C$492 million. Revenues totalled C$2 billion for the quarter, compared to C$1.9 billion during the same quarter in 2019.

United States employers added fewer jobs in November than expected, signalling an economic slowdown spurred by surging COVID-19 cases and piecemeal lockdowns across the country. Business payrolls increased by 307,000, which is the smallest advance since July. Congress has yet to agree to another stimulus package that would shore up small businesses and workers. The federal government’s full monthly jobs report will be released tomorrow.

Crude oil prices edged lower as the Organization of Petroleum Exporting Countries and its allies (OPEC+) scrambled to agree to output levels ahead of a meeting on Thursday. The cartel is working to gain consensus on a deal that would delay increasing production into the new year, as global demand remains low due to the COVID-19 pandemic.

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