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BEFORE THE BELL: First woman to head board of directors at Canadian Pacific Railway

Canadian Pacific Railway has selected the first woman to head the board of directors of the country’s second-largest railway.

Isabelle Courville has been designated to replace Andrew Reardon at the Calgary-based company’s annual meeting in May, according to a proxy circular.

An independent director since 2013, Courville is one of four women on CP’s nine-member board.

The former Hydro-Quebec executive is also currently a member of the boards at SNC-Lavalin and Laurentian Bank.

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On the markets Wednesday, The TSX lost more ground, one day after the Trudeau Liberals unveiled their federal budget.

The exchange was off by 20 points, lower for a second straight day.

There was a broad-based rise in Canadian energy stocks as oil continues to add value,  rising 1.4 per cent to close at $59.83 US a barrel.

The  Canadian dollar higher by 11/100ths of a cent closing at $0.7516 U.S.

Gold fell $4.80 to close to $1,301.

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