Philippine President Rodrigo Duterte pledged to open the teleceommunications and energy sectors of the country to foreign investors. He also expressed his firm intention to combat corruption and pretectionism that hinders economic growth.
Energy Sector
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The sectors of energy and health are showing major low performances.
Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
Royal Dutch Shell is reportedly seeking buyers for its North Sea assets following the merger with BG. The oil company intends to raise $30 billion from the sale of its global assets in order to balance the BG merger expenses.
Wall Street faced slight losses in the stock market on Monday as the drop in oil price burdened energy stocks. Investors are shying away from these energy stocks owing to the fall in crude prices.
Two of the many energy related shares in Carl Icahn portfolio's plunged on Monday trade causing the activist investors a paper loss of $90 million. The two companies are Chesapeake Energy Corp. and Transocean Ltd.
Valeant Pharmaceuticals and energy sector boost TSX
Valeant Pharmaceuticals and energy sector boost TSX
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