OTTAWA (dpa-AFX) - As markets are bracing for the latest tariff deadline, Canadian stocks might be hovering in the negative territory on Monday. The TSX Composite Index had gained 1.9 points to finish at 27,036.18 on Friday.
The new tariff rates, as proposed by U.S. President Donald Trump, will take effect on August 1. Meanwhile, Trump said on Sunday that an additional 10 percent will be levied on nations aligned with BRICS. He threatened that Brazil, Russia, India, and China aligning with anti-American policies will be charged an additional tariff and there will be no exceptions to this policy.
Oil prices are expected to be below $70 for the rest of the year, despite geopolitical uncertainties. The supply and demand might be pointing to an oversupply.
Alberta natural gas prices might surge next year, according to a Deloitte report.
European shares are trading higher. CAC 40 of France is adding 10.21 points or 0.13 percent. DAX of Germany is gaining 179.49 points or 0.75 percent. FTSE 100 of England is declining 12.45 points or 0.14 percent. The Swiss Market Index is sliding 21.37 points or 0.18 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.59 percent.
The U.S. economic calendar for Monday is quiet. Asian shares finished mostly lower. On the U.S. economic front, the three month and six-month Treasury bill auction will be held at 11.30 am ET.
Asian markets were mostly lower at close on Monday. China's Shanghai Composite Index edged up 0.02 percent to finish at 3,473.13. The Hang Seng Index slipped 64 points or 0.27 percent to attain 23,852.00.
The Japanese benchmark Nikkei 225 fell 224 points or 0.56 percent to close at 39,587.00.
Australia's S&P/ASX200 closed trading at 8,589.30, losing 0.16 percent from the previous close.
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