China's inflation held steady at 4.9% in February, above the government's target of 4% and the 4.8% increase expected in estimates compiled by FactSet Research, according to Marketwatch.com. Weaker-than-expected Canadian jobs data also pressured markets early. Canada's economy added a net 15,100 new jobs in February, according to Statistics Canada. The market was expecting 25,000 new jobs, the Wall Street Journal said. After four straight days of losses, the S&P/TSX index looks poised to gain for the day as bargain hunters emerge and some commodities prices rise. Gold was last up $8 at $1,420 per ounce. In company news, Silver Wheaton (SLW) rises after its CEO sees the possibility of paying out around half its cash flow each year in dividends, Reuters reports. Denison Mines (DNN) slips despite reporting a narrower quarterly loss on Thursday, helped by higher uranium prices. The S&P/TSX index was last up 0.26% at 13,674.03.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...