Global Markets: Fighting continues, ceasefire possible in Israel, Palestine

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– Another round of air strikes by Israel early Thursday killed one Palestinian and wounded others in the Gaza Strip despite calls from the United States to stop the fighting. Another bombing raid by Israel also destroyed five homes, three of which the Israeli military claimed were the homes of Hamas commanders. Despite differences in opinion between U.S. President Joe Biden and Israeli Prime Minister Benjamin Netanyahu, an anonymous Egyptian intelligence official told media outlets a ceasefire was likely to take effect Thursday evening or Friday morning.

– The Canada Pension Plan (CPP) Investment Board returned 20.4 per cent for the fiscal year ending March 31, its best return ever as global equity markets greatly improved compared to early 2020 at the start of the COVID-19 pandemic. The CPP earned C$83.9 billion in investments during the year and its net assets were C$497.2 billion as of March 31. The performances of stocks and credit investments helped boost the CPP, but it still lost C$35.5 billion in foreign exchange due to the rising loonie.

– The number of weekly unemployment claims in the U.S. declined to 444,000 for the week ended May 15, compared to 478,000 for the previous week, according to the U.S. Labor Department. The number is the lowest since March 2020.

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