By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Following the ‘peace summit’ in Switzerland during the weekend, the 90-plus countries that participated failed to agree on the final communique. India, Indonesia, Mexico, Saudi Arabia and South Africa declined to sign the document. The goal of the summit was to have isolated Russia, which wasn’t invited while China refused to attend. However the gathering showcased the West’s resolve to continuing supporting Ukraine against Russia’s invasion.
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- Campaigning for the snap parliamentary election in France started on Monday, with the far-right National Rally poised to win 35 per cent of the first round votes on June 30, according to an opinion poll. An alliance of left-leaning parties polled 26 per cent support while President Emmanuel Macron’s centrist alliance scored 19 per cent. The second round of voting is set for July 7.
- Israeli Prime Minister Benjamin Netanyahu revamped his war cabinet on Monday, following the departure of centrist politicians Benny Gantz and Gadi Eisenkot. The two took issue with Netanyahu’s handling of the war in Gaza. Netanyahu must now rely on right-wing parties to maintain his government.
- While South African parliamentarians voted overwhelmingly to re-elect Cyril Ramaphosa as president on Friday, his coalition partners were given a virtual veto. Ramaphosa has until Wednesday to select his cabinet, but he must consult with leaders of the Democratic Alliance and the Inkatha Freedom Party before the ministers can be sworn in. The Umkhonto We Sizwe and the Economic Freedom Fighter parties, which broke away from the African National Congress, refused to join the coalition led by Ramaphosa.
