No need to rush into emerging markets

Merrill Lynch strategists are extremely bullish on emerging-market stocks, but this optimism is based on a U.S. perspective. For Canadian investors, shifting investment assets from domestic to developingworld stocks is a more complicated, and possibly unnecessary, decision.   Thursday, July 20, 2017

The Venture Exchange, cast in a new light

A recent survey of Canadian investors by PricewaterhouseCoopers LLP found a healthy appetite for initial public offerings during the first half of 2017. In contrast to the same period last year when there were zero IPOs, the first six months of 2017 saw 16 new issues for a total market value of $2.9-billion. In addition, there appeared to be unsatisfied demand for more new issues that was not matched by companies looking to raise new capital. A possible explanation for this shortfall is the presence of sizable pools of private-equity funds, which provide an alternative route to raise capital.   Thursday, July 20, 2017

Oil glut to weigh on energy earnings

Sub-$50 oil and questions about the need for new heavy oil pipelines will dominate this Canadian energy-sector earnings season.The West Texas intermediate price drop into the low $40s (U.S.) a barrel in June has hammered any vestigial optimism in Canada's oil patch. The SandP/ Toronto Stock Exchange energy index had been making gains to the end of last year as some of the world's largest crude producers made targeted production cuts and oil prices climbed out of a two-year hole. Oil producers had penned 2017 budgets with prices of $50-55 a barrel in mind.   Monday, July 17, 2017


Bay Street gains Canadian stocks ended broadly higher, as resource, helped in part by higher commodity prices, and telecom stocks led advances. Manulife Financial closed 0.04 per cent higher. Encana added 1.8 per cent as the price of oil closed the day higher and rose 5 per cent this week.   Saturday, July 15, 2017