Investment
Norway sovereign fund expects to recover some SVB debt investment
OSLO, March 13 (Reuters) – Norway’s sovereign wealth fund said on Monday it expects to recover some of the investment it made in the bonds of collapsed U.S. bank SVB Financial Group.
“This is the biggest U.S. bank collapse since the financial crisis. We are closely monitoring the situation in the market,” a spokesperson for the fund said in an email to Reuters.
“We expect to get some money back on our credit exposure, but it is premature to say how much,” she added.
As of Wednesday’s market close, the fund held 1,699 million Norwegian crowns ($159.5 million) in SVB equities and 1,103 million crowns in bonds.
($1 = 10.6528 Norwegian crowns)
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
Toronto FC promises change at the club after missing out on the playoffs yet again
Ticats, Stampeders look to cap 2024 CFL season on a strong note
Raptors point guard Quickley questionable ahead of final pre-season game vs. Nets
dynaCERT Inc. Invites You to Join Us at the Vancouver Resource Investment Conference | INN – Investing News Network
AP source: Bears acquiring quarterback Nick Foles from Jaguars – Sportsnet.ca
12 Bizarre Things People Did Just To Make Social Media Content
-
News20 hours agoDefying Convention to Deepen Connections: Booking.com’s 8 Travel Predictions for 2025
-
News7 hours ago
After hurricane, with no running water, residents organize to meet a basic need
-
Sports7 hours ago
In The Rings: Curling Canada still looking for Canadian Curling Trials title sponsor
-
Politics7 hours ago
N.B. election debate: Tory leader forced to defend record on gender policy, housing
-
News7 hours ago
Alberta government shifts continuing care from Health to Seniors Ministry
-
News7 hours ago
Buhai, Green and Shin lead in South Korea after 8-under 64s in first round
-
News7 hours ago
Manitoba government halts school building plan, says other methods will be found
-
News7 hours ago
‘Significant overreach’: Ontario municipalities slam province over bike lane rules
