Stocks in airline sector are regaining investors' confidence as crude prices continue to decline. Aviation shares like SpiceJet, Jet Airways, and Interglobe Aviation increased 3% to 6% on Wednesday trading session .
Imperial Oil has entered into an agreement to sell its 497 Esso retail fuel stations for about C$2.8 billion. This transaction reflects the company's aim to widen its refining and oil sands businesses.
The finance minister of Canada, Bill Morneau, is expected to disclose the principal terms of Liberal's first budget on Monday. Morneau's revised budget figures will highlight the problems facing Canada's economy.
India's biggest airline by market share, IndiGo, is preparing to file a draft prospectus by May for a stock listing to raise $300 million to $400 million, two people with knowledge of the plans said, aiming to cash in on a boom in budget air travel.
Crude oil futures fell more than 2 percent on Monday as investors worried about oversupply and a strong dollar, but heating oil futures jumped 5 percent due to operational problems at major U.S. refineries.