Global Markets: Both sides claim victory in Venezuelan election

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.

• The outcome of the presidential election in Venezuela over the weekend remains in doubt, with both incumbent Nicolas Maduro and opposition challenger Eduardo Gonzalez claiming victory. Official results showed Maduro winning a third term with 51 per cent of the votes, but independent exit polls showed heavy support for the opposition party.

• The wildfire that destroyed a third of the Jasper townsite last week remains a threat, with firefighters working to contain the blaze. Cooler, wet weather over the weekend was welcome, but forecast call for drier conditions later this week.

• United States President Joe Biden is expected to propose broad reforms to the country’s Supreme Court on Monday, including term limits and a binding code of conduct. However, the chances of the proposals becoming law are slim, given the divided U.S. Congress.

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