Posthaste: Beleaguered no more? Canadian oil stocks are now world beaters

Good morning!

The Financial Post is launching Down to Business, a brand-new podcast, aimed at at tackling the hottest topics in Canadian business. Each week, host Emily Jackson will speak to key industry players to break down the biggest stories happening in Canadian business — from pot to pipelines, real estate to international trade wars. Canadian energy stocks have surpassed their American and European peers this year, writes Geoffrey Morgan

. And earnings seasons begins in earnest with Teck Resources and CP Rail results on deck today.

Here’s what’s breaking this morning:

  • Statistics Canada to release wholesale trade figures for February at 8:30 a.m. ET
  • Finance Minister Bill Morneau speaks at an event hosted by the Royal Canadian Mint in recognition of the progress made in the journey to equal rights for LGBTQ2 Canadians in Toronto
  • Environment Minister Catherine McKenna announce new funding to help protect and conserve Canada’s nature in Toronto
  • Canadian Gas Dialogues in Calgary, with lunch keynote speech by Andy Calitz, CEO of LNG Canada
  • SingularityU Canada national tech summit in Edmonton
  • Transport Minister Marc Garneau makes an announcement associated with marine safety and Canada’s Oceans Protection Plan in Vancouver
  • Federal Small Business Minister Mary Ng and B.C. Trade Minister Bruce Ralston make an announcement regarding the Export Navigator pilot program in Vancouver
  • Notable Earnings: Teck Resources Ltd., CP Rail, Coca-Cola, Harley-Davidson, Lockheed Martin, Procter & Gamble Co., Twitter Inc., Verizon. West Fraser Timber Co. Ltd.’s AGM.

The Canadian oilpatch may not be as beleaguered as previously thought. Indeed, in the last little while, they might be even have become world beaters: The S&P/TSX Capped Energy Index is up just over 20.37 per cent year-to-date, outperforming the U.S. S&P Energy Index, which is up 19.58%, according to Bloomberg data. The MSCI Europe Sector Index was up 13.06 per cent during the period, writes Geoffrey Morgan.

A new report says auto insurance rates are surging, with women experiencing higher increase in premiums in the first quarter compared to men. Industry observers blame the departure of several insurers from two of the largest markets in Canada as one of the factors that has led to the surge. Have you experienced a hike in your rates, too? Send your tips, comments and stories to yhussain@postmedia.com@Yad_FPEnergy.

— With files from The Canadian Press, Thomson Reuters and Bloomberg

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