TORONTO, Aug 16 (Reuters) – A Canadian fund is breaking away
from the tradition of investing heavily in resource-focused
plays and betting that a motley mix of retail and information
technology stocks will help it outperform the broader market.
So far the ploy is working.
Resource groups are among the worst performers on Canada’s
benchmark index this year, but for Brandon Snow’s Canada-focused
small and mid-cap fund the rewards have been sweet.
TORONTO, Aug 1 (Reuters) – The pace of Canadian
manufacturing growth eased to a three-month low in July as
output and new orders had only modest gains, the RBC Canadian
Manufacturing Purchasing Managers’ index showed on Thursday.
The index, a gauge of manufacturing business conditions,
slipped to 52 in July after adjusting for seasonal variation
from 52.4 in June.
TORONTO (Reuters) – Canadian companies are likely to post only small overall gains in second-quarter profit, as strength in the energy and insurance sectors is offset by miners struggling with softer prices for gold and other metals.
Many analysts have already trimmed forecasts as some of the country’s biggest companies prepare to report, with the choppy global economy and sluggish domestic growth cooling expectations.
TORONTO, July 2 (Reuters) – Canada’s manufacturing growth
slowed in June, pulling back from a sharp gain in May,
suggesting that sluggish global demand is still weighing on the
country’s export-oriented economy.
The RBC Canadian Manufacturing Purchasing Managers’ Index
retreated to 52.4 in June, after adjusting for seasonal
variation, from 53.2 in May. Despite the decline, the reading
was the second highest since September.
TORONTO, May 29 (Reuters) – Commercial borrowing by small
and medium-sized businesses in Canada climbed in the first
quarter, driven by robust domestic and global demand, a PayNet
survey showed on Wednesday.
PayNet, which tracks commercial financing for millions of
North American small and medium-sized businesses, said its
Canadian Business Lending Index rose to 194, the highest level
since it was created in 2005.
TORONTO, April 19 (Reuters) – Corporate Canada looks set to
post lackluster first-quarter results, but lowered expectations
and a sharp selloff earlier this week may set the stage for
near-term share price gains.
Earnings beats and any optimistic outlooks are now more
likely to provide a boost when some of the biggest companies
start reporting next week.
BURLINGTON, Ontario (Reuters) – Canada has no immediate plans to sell its stake in General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), Finance Minister Jim Flaherty said on Wednesday following news the U.S. Treasury will sell its entire stake in GM over 15 months, but he said the stake will be sold eventually.
“We’ve always been clear about two things. One, that we will not have a fire sale – we will not sell the shares without getting the best value we can for Canadian taxpayers – and secondly, that we are a Conservative government. We are not interested in the long term in being shareholders in private corporations,” Flaherty told reporters in Burlington, Ontario.
TORONTO (Reuters) – The Bank of Canada’s Mark Carney mused about priorities in reply to a question about the lessons he would take to his next job in London, but said he would only discuss Britain’s needs when he talks to a House of Commons committee next year.
Asked about lessons he would take to his next position, as the head of the Bank of England, Carney stressed the importance of speedy, transparent action to address potential flashpoints.
TORONTO, Dec 11 (Reuters) – The Bank of Canada may need to
raise interest rates higher than would be normal in order to
curb household debt, although its talk of higher rates has
already encouraged more prudent borrowing, Governor Mark Carney
said on Tuesday.
In his first speech since being appointed as the next Bank
of England governor, Carney repeated the bank’s mildly hawkish
line on the likelihood of a modest withdrawal of stimulus
measures. That stance, maintained since April, has made Canada’s
central bank an outlier among the central banks of developed
TORONTO, Oct 30 (Reuters) – Toronto’s main stock index rose
on Tuesday led by materials stocks, though volume was lighter
than usual, as investors sought to gauge the impact of storm
Sandy on the United States.
Sandy, one of the biggest storms to ever hit the country,
left at least 30 people dead and caused significant power
disruptions, though some market players had expected even more