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HomeBusiness ReportBefore the bell: Finance Ministers meeting in Ottawa

Before the bell: Finance Ministers meeting in Ottawa

The federal equalization program will be among the topics discussed in Ottawa Monday, as Canada’s finance ministers meet for their second summit this year.

Ontario, Alberta, Saskatchewan and Newfoundland are all calling for an overhaul of the program, which this year will distribute nearly $20-billion among five provinces.

Finance Minister Bill Morneau says the formula was renewed earlier this year for a five-year period after extensive discussions from his department.

On Friday:

The TSX dropped 141 points below the flat line, with seven of 11 sectors trading lower.

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Oil moved 76 cents higher to $52.25 US a barrel.

The loonie made a big jump, strengthening by 35/100ths of a cent to $0.7508 US while gold was a popular commodity, climbing $10.60 to $1,250 an ounce.

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