On Wednesday, U.S. markets are down modestly while Toronto is up 0.2%.
Oil is up 2.5% to $45.78. This is positive for Canadian Western Bank and Melcor and AutoCanada.
It is, of course, hard to say how the Fort McMurray situation will affect various companies. Some will receive insurance including business interruption insurance. Others may not have business interruption insurance. Most businesses in the area will likely suffer at least some uninsured losses. Reports are that residents may not be allowed back for at least two more weeks even in the areas untouched by the fire. I would think that the economic damage would be lower, the faster the residents get back home. I don’t know why it would take two weeks before anyone can return. It may have to do with restoring water and electricity and (less urgent) natural gas. Presumably the authorities have good reason and are moving as fast as they can.