Top headlines: Freeland announces steps to make banking more affordable
Strength in base metals and battery metals stocks helped Canada’s main stock index eke out a small gain, while U.S. stock markets were mixed.
The S&P/TSX composite index closed up 72.00 points at 19,692.80.
In New York, the Dow Jones industrial average was up 13.11 points at 33,997.65. The S&P 500 index was down 0.43 points at 4,373.20,while the Nasdaq composite was down 34.24 points at 13,533.75.
The Canadian dollar traded for 73.28 cents U.S. compared with 73.43 cents U.S. on Monday.
The December crude oil contract was up 18 cents at US$85.44 per barrel and the November natural gas contract was down three cents at US$3.08 per mmBTU.
The December gold contract was up US$1.40 at US$1,935.70 an ounce and the December copper contract was down less than a penny at US$3.58 a pound.
Canada’s government is examining new measures to rein in short-term rental services such as Airbnb Inc. as policymakers try to cool inflation in apartment and house rents.
Finance Minister Chrystia Freeland said the government is looking at what laws or regulations it can bring in to curb the use of platforms that offer rented accommodation for a few days or weeks at a time. She heaped praise on the province of British Columbia, which this week introduced a proposed law to restrict many residents from renting their investment properties on Airbnb, Flipkey and similar services.
“We know that short-term rentals through sites like Airbnb and VRBO mean fewer homes for Canadians to rent, especially in urban and populated areas of our country,” Freeland said during a press conference in Ottawa. She said she has seen estimates that as many as 30,000 more homes could be made available for rent in Toronto, Montreal and Vancouver, if those platforms were
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