Canada's S&P/TSX Composite Rises 1% After Carney Unveils West Coast Oil Pipeline

1 articles · Updated · Bloomberg · Jul 3

The S&P/TSX Composite gained 1% by 10:28 a.m. in Toronto after Prime Minister Mark Carney proposed a major new oil pipeline to Canada’s West Coast.
Breadth was strong across the market, with roughly seven stocks rising for every one falling, suggesting the pipeline plan lifted sentiment beyond energy shares.
All 11 sectors advanced in morning trading, reinforcing the broad-based nature of the rally.
US cash markets were closed for the July 4 holiday, leaving Canadian equities to react largely on domestic news.

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With its $200B energy bet, is Canada securing its economic future or investing in a stranded asset?

As Canada pivots oil exports to Asia, what does this mean for its energy alliance with the United States?

Will Indigenous equity in the new pipeline grant real decision-making power or just a share of the project's risk?

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