Global Markets: Ever Given partially on the water

Source: Canadian Cattlemen

WINNIPEG, March 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The Ever Given container ship, which ran aground in the Suez Canal on March 24 blocking the shipping route, was partially refloated on Monday but is still days away from moving once again. The Suez Canal Authority (SCA) said the ship was mostly straightened along the canal’s east bank and tugging operations will resume once the tide rises. When the ship is moved towards the “lakes area”, a wide section of the canal, ships can resume moving through the canal. As of Monday, 369 container ships, vessels and oil tankers were waiting for the Ever Given to become dislodged.

– Canadian consumer confidence reached a record-high last week, according to Bloomberg. The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on household surveys to 250 Canadians each week, recorded its highest reading since the poll began in 2008 at 63.7 compared to the historical average of 56. Nanos Research cited optimism over the vaccine rollout and the rising value of real estate as the main reasons for the rating. This week, Canada is scheduled to receive 3.3 million doses of COVID-19 vaccine, the largest influx since vaccines became available.

– A joint study by the World Health Organization (WHO) and the Chinese government reported that the most likely scenario for the COVID-19 pandemic was transmission from bats to humans through another animal, according to a draft copy obtained by the Associated Press. It also debunked the theory that the virus was unleashed from a lab leak, as many believe. Two other theories proposed in the report include direct transmission from bats to humans, which was deemed likely, and spread through “cold-chain” food products, considered to be possible.