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Global Markets: China/U.S. trade truce lacking detail

By Commodity News Service Canada

WINNIPEG, Dec. 4 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Investors were still waiting for details on the tentative trade truce between the United States and China, as China has yet to confirm any of the claims made by the U.S. side.

– Canada’s official opposition Conservative Party has held onto an Ontario riding in a byelection held Monday. The Leeds-Grenville-Thousand Islands and Rideau Lakes riding was won by Conservative Michael Barrett.

– Food prices in the United Kingdom could rise by five to 10 per cent if the exit from the European Union does not go smoothly, warned Bank of England governor Mark Carney. Tariffs, adjustments in the British pound, and increased border costs would all contribute to the rise in food prices, as the UK imports about half of its food.

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