Toronto's stock market will rise over the coming year, adding to large gain...
TORONTO - Toronto’s stock market will rise over the coming year, adding to large gains in 2019, as low interest rates support the global economy and investors take a liking to its cheaper valuation than Wall Street, a Reuters poll found.
“With interest rates roughly at all-time lows, with inflation non-existent ... I think we are still in a very good environment for stocks,” said Allan Small, a senior investment adviser at HollisWealth. “I don’t think we are going to see a recession in 2020.” The Toronto market trades at a multiple of less than 15 times annualized earnings, based on a preceding 12-month period, versus a price-earnings ratio of about 22 for the S&P 500, data from Refinitiv Eikon showed.
Many value stocks can be found in the financial, industrial and resource sectors of the Toronto market. When combined, these sectors account for about three-quarters of the TSX Composite’s market capitalization. But prospects for pot stocks could be improving as a result of the potential for Ontario, Canada’s largest province, to accelerate its roll-out of retail cannabis distribution and for the United States to take steps toward the weed’s federal legalization, said Robert McWhirter, a portfolio manager at Selective Asset Management Inc.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meet Laline, The New Skincare Brand Making a Splash in CanadaDiscover Laline, where body cosmetics meets soul care. It’s the perfect way to pamper yourself. (Brought to you by Laline)
Read more »
Pelosi says U.S.-Mexico-Canada trade deal is 'within range'U.S. House of Representatives Speaker Nancy Pelosi said on Monday that a version...
Read more »
Trump says Mexico and Canada could back out of his signature NAFTA replacement deal | Markets InsiderPresident Donald Trump on Monday cast further doubt on his signature rewrite of the 25-year-old North American Free Trade Agreement. He claimed ...
Read more »
China's house price growth to hit five-year low in 2020: Reuters pollChina's house prices are expected to grow just 3.1% next year, the lowest o...
Read more »
Smaller cities see bigger gains even as U.S. home-price growth remains sluggishAway from the coasts, home price growth has actually picked up in certain areas.
Read more »