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Highlights
- 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-favoured-nation (MFN) status under the provisions of the World Trade Organization.
- Many Canadian companies are also taking initiatives or facing certain impacts amid this ongoing war, leading them to trend on the stock markets.
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-favoured-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)
Royal Bank, on February 27, declared a total donation of C$ 250,000 for immediate humanitarian efforts in Ukraine and its community in Canada.
RBC scrip swelled by nearly 27 per cent in the past 12 months. The bank stock closed at C$ 139.04 apiece on Thursday, March 3, up by about one per cent.
Also read: How could Russia seizing Zaporizhzhia nuclear plant impact the world?
2. TELUS Corporation (TSX: T)
TELUS, along with its Friendly Future Foundation and its team, is said to be donating over C$ 2.5 million to Ukraine’s humanitarian relief efforts.
Stocks of Telus rose by almost 26 per cent year-over-year (YoY). The telecom stock closed at C$ 32.80 apiece on Thursday, with 3.4 million shares exchanging hands.
3. Great-West Lifeco Inc (TSX: GWO)
Great-West, on February 28, donated $ 200,000 to the Canadian Red Cross to aid urgent humanitarian actions.
Stocks of Great-West jumped by nearly 16 per cent in the last one year. GWO stock closed at C$ 37.25 apiece on Thursday.
4. Nutrien Ltd (TSX: NTR)
Nutrien stock has noted a rise in the wake of the war in Ukraine as investors worried about global supply shortage.
The Canadian fertilizer producer reportedly hiked its potash production by nearly one million tonnes in 2021 in line with market demand and is expected to ramp up its potash and nitrogen production this year as well.
The crop stock galloped by almost 64 per cent over the past 12 months and closed at US$ 113.73 apiece on Thursday after jumping by over two per cent.
5. Magna International Inc (TSX: MG)
Magna International is said to be suspending operations in its six plants in Russia in response to the war activities in Ukraine.
Following this development, Magna stock slipped by almost four per cent to close at US$ 84.35 apiece on March 3.
Also read: Why is Kinross Gold (TSX:K) trending amid Russia-Ukraine war?
Bottomline
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.
