Carney Bets on Europe’s Rise

Author

Jay Lutz
May 04, 2026

 

Sponsored by First Majestic Silver

Carney Bets on Europe’s Rise

 

Prime Minister Mark Carney used Canada’s first appearance at the European Political Community Summit in Armenia to argue that the next international order will be rebuilt from Europe, tying the claim to a broader Canadian push into defence, critical minerals, energy, digital infrastructure, space, semiconductors, payment systems, vaccines, and clean technology.

“I’ll close with this: it’s my strong personal view that as the international order will be rebuilt. But it will be rebuilt out of Europe,” Carney said.

The remark triggered backlash online from critics who framed it as evidence that Ottawa intends to shift Canada away from the US and toward Europe in core economic sectors.

You can read more on the matter here.

First Majestic Silver (TSX: AG) (NYSE: AG) is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A, alongside their own minting facility, First Mint. Current guidance calls for 31.6 million ounces of silver equivalent production in 2025, at cash costs of just $14.15 an ounce.

What’s going on?

  • Canada Rolls Out $1.5 Billion Relief Package to Counter US Metal Tariffs (theDeepDive)

  • Carney to name Canada's next governor general on Tuesday (CBC)

  • Health Canada Clears Second Alzheimer’s Disease Drug (theDeepDive)

  • Vladimir Putin hunkers down for fear of assassination (FT)

  • OpenAI Says Elon Musk Tried Settlement Before Court Fight (theDeepDive)

  • Federal government announces new $1B loan program for steel, aluminum businesses hit by Trump tariffs (BNN)

  • Iran Accused Of Targeting UAE’s Empty ADNOC Oil Tanker (theDeepDive)

  • Taxes on Second Homes Are Springing Up Across America (WSJ)

  • US Navy Rejects Iranian Claims of Missile Strike on Warship Near Jask Island (theDeepDive)

  • Elon Musk threatened to make OpenAI’s Sam Altman and Greg Brockman ‘the most hated men in America’ (FT)

  • Milei Allegedly Bankrolled a Trump-Linked Disinformation Network Targeting Mexico and Colombia (theDeepDive)

What’s the latest?

  • AI: Loblaw Companies Limited has partnered with Shakudo to build and deploy AI applications across its business. The deal gives Loblaw a centralized platform for AI development, allowing teams to focus on solving real problems while maintaining secure integration with internal systems. The move supports Loblaw’s broader AI strategy across brands like Loblaws and Shoppers Drug Mart.

  • Gamestop: Shares of eBay surged after GameStop, led by Ryan Cohen, proposed a ~$56 billion takeover to compete with Amazon. The bid values eBay at $125 per share and includes plans to use GameStop stores as logistics hubs, though eBay says it has not engaged in talks and is reviewing the unsolicited offer.

  • Markets: Canada’s S&P/TSX Composite Index fell over 100 points, weighed down by base metals, financials, and industrials, while U.S. markets—including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite—also declined; oil rose, gold fell, and the Canadian dollar edged lower.

  • Trade War: Canada, led by Mélanie Joly, is launching a $1 billion loan program through the Business Development Bank of Canada to support steel, aluminum, and copper companies affected by tariffs imposed by Donald Trump; the loans offer zero interest in the first year and flexible repayment terms, alongside an additional $500 million in aid for smaller businesses.

  • Politics: Suspected Iranian attacks struck multiple ships and a UAE oil port in the Strait of Hormuz, escalating tensions despite a ceasefire, as Donald Trump’s naval mission to reopen the route failed to restore shipping. The strait remains largely blocked, with conflicting U.S. and Iranian claims about vessel movements, while rising attacks and uncertainty have pushed oil prices higher and kept global shipping on hold.

Newmont Q1 Earnings

The stock market and stuff

  • Is It HODL Time As Bitcoin Breaches $80K Again? (theDeepDive)

  • Foreclosure Filings Hit Six-Year High as Insurance and Tax Costs Squeeze US Homeowners (theDeepDive)

  • GameStop Offers to Buy eBay for $56 Billion (WSJ)

  • Polymarket Profits Concentrated: 0.1% of Accounts Net Nearly $500 Million (theDeepDive)

In the juniors

  • G2 Goldfields Drills 3 g/t Gold Over 84.5 Metres, Extending Depth of Deposit To 1 Kilometre (theDeepDive)

  • New Found Gold Continues to Confirm Continuity of The AFZ Core and Intersect New Mineralization at Depth at The Queensway Gold Project (JMN)

  • Kirkland Lake Discoveries Drills 39.35 g/t Gold Over 16.4 Metres As Mirado Continues To Grow (theDeepDive)

FULL DISCLOSURE: First Majestic Silver is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Majestic Silver. The author has been compensated to cover First Majestic Silver on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.