Europe's Rate Hike and Geopolitics Send Markets into Turmoil

Global markets were mixed as investors awaited a widely forecast interest rate hike from the European Central Bank. The ECB is expected to raise rates by another 25 basis points today, which has been almost entirely priced in.

The renewed surge in energy prices pushed headline inflation back above 3 per cent in the euro area, according to Ipek Ozkardeskaya, senior analyst at Swissquote.

Oil prices continued to climb as Brent crude remained above US$100 a barrel. The price of Brent crude futures rose 1.4 per cent to US$102.60 a barrel.

In Canada, investors are getting results from Empire Co. Ltd., Descartes Systems Group Inc., Transat A.T. Inc., and Groupe Dynamite Inc.