CETA would also be of enormous political help to Harper, who is under pressure at home over a spending scandal. CANADA TRIES TO CALM ANGRY DAIRY FARMERS Canada’s Conservative government tried on Thursday to calm angry dairy farmers who said they would be hurt by an increase in the EU’s cheese export quota under CETA. Denis Lebel, the federal minister responsible for Quebec, said the government would compensate any farmer who suffered as a result. The dairy lobby is influential in rural parts of Quebec and Ontario that tend to vote Conservative. For Europe and Canada, the accord would also be one of a new generation of trade pacts that not only remove import tariffs but also harmonise rules on how companies do business across borders. An EU-U.S. deal would likely build on some of the agreements made with Canada to boost transatlantic business. The EU-Canada pact would eliminate tariffs on almost all goods and services, set larger quotas for EU dairy exports and Canadian beef and pork exports and make it easier for EU car makers to export vehicles to Canada. For the first time, provincial governments in Canada would commit to opening their lucrative procurement markets to allow European companies to compete for contracts alongside locals. EU governments, the European Parliament and Canada’s 10 provinces will still need to approve any EU-Canada deal. Jean Charest, the former premier of Quebec and one of the main drivers behind the deal, said while no Canadian province could veto the treaty, it could in theory refuse to take part in areas of provincial jurisdiction, such as procurement. “Expect everyone to have something about this deal that they don’t like.
market * Telecoms weigh after government pushes on roaming, TV bundles By Alastair Sharp TORONTO, Oct 17 (Reuters) – Canada’s main stock index closed at its highest level in more than two years on Thursday, led by gold miners, as investors assumed the ill effects of the 16-day U.S. government shutdown would force the Federal Reserve to maintain its monetary stimulus. The U.S. Congress on Wednesday approved an 11th-hour deal to end the shutdown and pull the world’s biggest economy back from the brink of a historic debt default that could have threatened financial calamity. The temporary deal funds the government until Jan. 15 and raises the debt ceiling until Feb. 7. With the price of bullion soaring 3 percent and Canada’s many gold mining companies following suit, the Toronto Stock Exchange’s S&P/TSX composite index added 79.15 points, or 0.61 percent, to close at 13,036.36, its highest finish since late July, 2011. “It seems like investors are starting to realize that this will probably delay any possible tapering by the Fed and markets are responding positively to that today,” said Youssef Zohny, portfolio manager at Stenner Investment Partners in Vancouver. Barrick Gold Corp jumped 4.6 percent to C$19.06 and Goldcorp Inc added 3.5 percent to C$25.26. Kinross Gold added 3.7 percent to C$5.04 and a string of smaller miners posted similar percentage gains. “The Canadian market is holding up better than the American exchanges because we are seeing a bright spot in gold prices,” said Gareth Watson, a vice president for investment management and research at Richardson GMP. On Wall Street, the S&P 500 closed at a record high, but weak earnings from IBM and Goldman Sachs pulled the Dow industrials lower. Fortuna Silver Mines Inc jumped 10.6 percent to C$3.66 after it increased its estimate of silver reserves in a Mexican mine by 22 percent. The materials sector, which includes gold miners, was the driving force behind the TSX’s gains, but utilities and financials also moved higher.
CANADA STOCKS-Gold miner surge pushes TSX to 2-year high
Stanley has a long history of sexual offenses against women and children and had been missing since Oct. 1, when he cut off his electronic-monitoring bracelet near the Alberta-Saskatchewan boundary. In the aftermath, schools in several west-central Saskatchewan communities locked their doors and kept children inside after police got multiple, unconfirmed sightings of the Edmonton man. Canadian authorities warned U.S. counterparts that Stanley might try to cross the border, but U.S. officials allowed him in after determining he was a U.S. citizen and not the subject of an extraditable arrest warrant. Alberta authorities explored the possibility of seeking Stanley’s extradition but eventually decided not to try. U.S. law enforcement officials have said they can’t arrest Stanley unless he commits a crime. Dan Coon, a Washington State Patrol spokesman, said this week that Stanley would be treated just like any other person.