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Global markets: G20 leaders drop protectionism stance

By Commodity News Service Canada

WINNIPEG, March 20 – The following is a glance at the news moving markets globally.

– G20 leaders moved to drop a no-protectionism pledge, according to a release issued on Saturday.

The news follows 10 years of encouraging open trade. The G20 is comprised of 19 countries and the European Union.

The announcement pressured global markets, including crude oil, in early activity on Monday.

– Canadian wholesale sales rose 3.3 per cent to a record high C$59.1 billion in January. This was the largest monthly percentage gain since November 2009, when wholesale sales rose 3.8 per cent. Sales were up in four of seven subsectors, representing 55 per cent of total wholesale sales. The motor vehicle and parts subsector contributed the most to the gain, Statistics Canada said in a report on Monday.

In volume terms, wholesale sales increased 3.4 per cent.

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