Why are these Canadian stocks trending amid the Russia-Ukraine war?
Russia’s invasion of Ukraine has crippled global markets, leaving investors worried about supply crunches and skyrocketing commodity prices .
In response to Russia’s attack on Ukraine, Canada has annulled Russia and Belarus’ most-favored-nation (MFN) status under the provisions of the World Trade Organization. It has also slapped a tariff of 35 per cent on their goods.
Many Canadian companies are also taking initiatives or facing certain impacts amid this ongoing war, leading them to trend on the stock markets.
Let us find out about five such Canadian corporate stocks.
Royal Bank of Canada (TSX: RY)
TELUS Corporation (TSX: T)
Great-West Lifeco Inc (TSX: GWO)
Nutrien Ltd (TSX: NTR)
Magna International Inc (TSX: MG)
With intensified geopolitical pressure led by the Russia-Ukraine conflict, many other Canadian companies, like Kinross Gold, have also taken measures, such as idealizing their Russian operations, or felt an impact on the stock markets. Investors should ideally tread lightly in such market conditions.
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