Stocks Flat Amid Trade Squabble -- Canadian Commentary

(RTTNews) - Canadian stocks inched higher Thursday, extending gains from the previous session despite lower oil prices.

Canada announced $16.6 billion surtax toward the US amid a brewing trade squabble. That's after big tariffs announced by the US.

"Americans remain our partners, friends, and allies. This is not about the American people. We have to believe that at some point their common sense will prevail. But we see no sign of that in this action today by the US administration," Justin Trudea tweeted.

In economic news, Canada's real gross domestic product grew 0.3% in the first quarter, following an increase of 0.4% in each of the previous two quarters.

Scotiabank (BNS.TO) is buying MD Financial for more than $2.5 billion dollars.

BMO's data breach reportedly included SIM data.

The TSX Composite Index was up 12 points to 16,061. Crude oil slipped near $67 a barrel.