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Banks, Energy Shares May Move as Canada Votes

From bnnbloomberg.ca

With Canadians set to vote Monday in a highly competitive election, the outlook for the two largest sectors in country’s stock index hangs in the balance. Polls say the race is close. If Prime Minister Justin Trudeau wins, as now looks likely, he may follow through on a promise to increase taxes on the biggest banks and insurance companies and impose stricter emissions rules on oil and gas companies. Financial and energy stocks make up 44% of the benchmark S&P/TSX Composite Index. If, however, Conservative leader Erin O’Toole pulls off an upset, it could potentially bring a relief rally to the two groups. A ... (full story)

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  • Category: Fundamental Analysis