Daily Archive: March 3, 2020

TSX snaps six-day losing streak as global stocks rally on central bank hopes

Canadian stocks clawed their way into the green, snapping a six-day losing streak as expectations mounted central banks would cut interest rates to flight the growing impact of the coronavirus.

The S&P/TSX Composite Index rose about 0.8 per cent to 16,382.02 at 11:21 a.m. in Toronto, buoyed by gains in telcos, utilities and real estate. BCE Inc. gained about 1.1 per cent and Brookfield Renewable Partners added 3.3 per cent. Energy stocks fell despite oil rebounding from its worst week since 2008.

The S&P 500 pushed to session highs after news that Group of Seven finance ministers and bankers plan to hold a teleconference Tuesday to discuss how to respond to the outbreak. Tech shares led gains after central banks from Japan to England earlier joined the Federal Reserve in promising action as warranted.
The two-year Treasury yield sank through its 2016 lows and 10-year rates fell below 1.10 per

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Ex-Astro Giles would return World Series ring By Reuters


Relief pitcher Ken Giles is prepared to return his World Series ring from the 2017 season with the Astros, saying he wasn’t aware of the sign-stealing plot while with Houston.

“It crushed me to learn about the stuff that went on when I was there,” Giles, now a member of the Toronto Blue Jays, told the Toronto Sun. “I had no idea. I had no clue whatsoever. I was blindsided by the commissioner’s report. Up until then, I honestly didn’t believe it. Just crazy.”

Giles is the latest member of the pitching staff to claim no knowledge of the cheating scandal. Giles, like most relievers, spent the entirety of most games in the outfield bullpen. He was traded to the Blue Jays in July 2018. Giles said the ring the team won in 2017 brings a lot of mixed emotions, but mostly hurt.

“Whatever they ask, I would oblige. Because

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The markets charge back to life—with a little help from the Fed

This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here.

Good evening, Bull Sheeters! This is Fortune finance reporter Rey Mashayekhi, filling in this week for Bernhard Warner. We’re trying something new: To orient you on Asia and U.S. markets, I’ll be sending you a special evening (or morning, for those of you in Asia) edition of the newsletter. We’ll be back to regular scheduling next week.

In what are tumultuous times for the global financial markets, I’ll do my best to keep this ship of ours sailing smoothly as businesses and investors navigate the fallout from the ongoing coronavirus outbreak. And that’s exactly where we will begin today’s discussion: Last week saw markets around the globe lose trillions in value thanks to fears of the outbreak’s hugely disruptive potential.

But it … Read More