Latest news with #iAPrivateWealth
Mint
12 hours ago
- Business
- Mint
TSX ends largely flat for the week as market shows resilience
TSX ends down 0.03% at 26,497.57 Advance estimate shows retail sales down 1.1% in May Technology sector declines 0.5% Two sectors end higher, including financials June 20 - Canada's main stock index was barely changed on Friday, holding near its recent record high, as investors assessed developments in the Middle East conflict and domestic data that showed signs of an economic slowdown. The S&P/TSX composite index ended down 8.43 points, or 0.03%, at 26,497.57, extending its sideways pattern since notching a record closing high on June 12. For the week, the index was also down 0.03%. "The fundamental theme is one of market resilience," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth. "We have a lot of moving parts. You've got geopolitical risk, you've got trade talks, you've got central bank action - a host of elements which make it difficult to predict where we'll be in the second half of the year and yet investor sentiment is still leaning towards risk-on, still concerned about the fear of missing out rather than encountering a sudden downside." Canada's retail sales were up in April on a monthly basis but were below estimates, while advanced data showed a drop of 1.1% in May. "The advance estimate sets a somber tone for the second quarter," Maria Solovieva, an economist at TD Economics, said in a note. "In addition, our internal credit and debit card spending data shows a meaningful softening in spending through May, suggesting that consumers tightened their purse strings." The technology sector fell 0.5%, with technology consulting company CGI Inc down 2.1%. Consumer staples was also a drag, losing 0.5%. Ltd is weighing options to expand production of germanium, a strategic metal key to chipmaking, and is currently talking with governments, including Canada and the United States, on available funding, the company told Reuters. Shares of Teck were down 1.2%. Just two of the 10 major sectors ended higher but they included financials, the most heavily weighted sector. It added 0.1%. This article was generated from an automated news agency feed without modifications to text.
Mint
13-06-2025
- Business
- Mint
TSX falls as Iran-Israel tensions shake markets
* S&P/TSX composite index was down 0.42% at close * Fall was contained by rise in energy, gold stocks * Crude oil price up by 7% to $74.23 per barrel * Spot gold rose 1.6% at $3,428.10 an ounce By Ragini Mathur and Promit Mukherjee June 13 - Canada's main stock index retreated from recent highs on Friday, dragged down by investor fears of a wider conflict after an Israeli attack and Iranian retaliation rattled global markets. Investors rushed to safe-haven gold, pushing its price higher, while panic around the prospect of an all-out war triggered a spike in crude oil futures. The S&P/TSX composite index closed down 0.42% at 26,504.35 points, falling from its all-time peak seen a day ago. Iran launched hundreds of ballistic missiles toward Israel, Iranian media reported. This was in response to a strike by Israel on Iran's nuclear sites, spurring widespread tensions in a politically fragile region. Israel has warned that the strikes were the start of a prolonged operation to prevent Tehran from building nuclear weapons. Iran, which produces close to 4 million barrels of crude oil per day, has promised a harsh response. Investors on the TSX withdrew from financial, technology and industrial stocks while some poured money into energy and gold companies. "You see a sell-off after a brief pickup because of the uncertainty of what could happen over the weekend after Iran's response," Elvis Picardo, senior portfolio manager at Luft Financial, iA Private Wealth, said. The conflict could have reverberations across the globe, Picardo said, adding, with the Middle East, the fear is always of disruption to the flow of oil that has inflationary consequences across sectors and economies. The fall in the composite index on the Toronto Stock Exchange was limited by gains in energy and gold mining shares as prices of crude oil and gold climbed. Brent crude futures rose almost 7% to $74.23 a barrel. Spot gold rose 1.55% to $3,437.18 an ounce. The capped energy index rose 2.77% and helped cushion the impact of the fall of the composite index. Energy shares account for almost 17% of the total weight on the main index. Materials index, or the tracker of mining companies, rose 1.41% especially because of a rise in gold mining stocks as investors prefer to take refuge in the precious metal during times of uncertainty. Mining companies claim a weight of 12.5% in the benchmark index. The benchmark index achieved a second consecutive record high on Thursday and appears poised to secure its third straight weekly gain, provided losses remain contained.
Business Recorder
13-06-2025
- Business
- Business Recorder
TSX falls as Israel's strikes on Iran dampen risk appetite
Canada's main stock index declined on Friday, dragged down by losses in technology shares, as Israel's widescale strikes on Iran dampened global risk appetite. The S&P/TSX composite index was down 0.5% at 26,490.64 points. Israel has warned that the strikes were the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran has promised a harsh response. However, U.S. President Donald Trump urged Iran to make a deal over its nuclear programme, saying there was still time for the country to prevent further conflict with Israel. The downturn in the TSX was limited as investors shifted to safe-haven assets, boosting metal mining shares. The materials sector gained 0.6% The energy sector rose 1.7% to be the top gainer as the tensions in the Middle East sparked worries about supply disruptions, boosting crude prices. 'I don't think it's any surprise that Toronto Stock Exchange is going to hold up greater than New York, which is more based on technology or multinational corporations,' said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth. 'Gold and oil make up a big chunk of our market and anything commodities-based is relatively going to do well'. The technology sector fell 1.5%, while the heavyweight financial stocks were down nearly 1%. The benchmark index achieved a second consecutive record high on Thursday and appears poised to secure its third straight weekly gain, provided losses remain contained.
Hamilton Spectator
03-06-2025
- Business
- Hamilton Spectator
U.S., Canadian markets move higher as investors shrug off tariff ‘noise'
Canada's main stock index edged up and U.S. markets climbed as investors tried to tune out the latest noise from U.S. President Donald Trump's tariff war. 'I think everybody's taking a wait-and-see approach,' said Allan Small, senior investment adviser at iA Private Wealth, referring to worldwide 'reciprocal' tariffs on pause for at least another month. 'It would be a very bad thing for the United States to reinstate these large tariffs. So I think the market is saying that's not going to happen and moving higher based on anticipating something good coming out of some trade negotiations.' The S&P/TSX composite rose 37.68 points to 26,426.64. The Canadian market has benefited recently from strength in gold — a safe haven investors tend to flee to during rocky times — as well as energy and financials, Small said. In New York, the Dow Jones industrial average was up 214.16 points at 42,519.64. The S&P 500 index was up 34.43 points at 5,970.37, while the Nasdaq composite was up 156.34 points at 19,398.96. 'It's interesting that the market is shrugging off a lot of the noise coming out of Washington with respect to the increase in steel and aluminum tariffs,' Small said. In March, Trump imposed 25 per cent tariffs on steel and aluminum imports to the United States. Trump announced his intention to double the duties at a steel plant on Friday. Canada is the largest steel supplier to the United States, accounting for nearly 25 per cent of all imports in 2023. As Canadian officials were preparing for meetings in Washington on Tuesday, White House press secretary Karoline Leavitt said Trump would sign an executive order to increase the duties to 50 per cent. U.S. markets are heavily swayed by moves in big tech stocks like Apple, Nvidia and Meta. And those stocks tend to in turn be driven largely by the latest tariff news. 'Trade's ruling the day and the one sector that seems to be heavily affected is tech,' Small said. 'As long as the U.S. is talking to China, tech seems to be doing OK.' Small said it appears the global trade war is entering a new phase centred around negotiating deals, Small added. Investors, meanwhile, are becoming immune to the almost daily back-and-forth. 'The president seems to come out swinging every time, swinging for the fences, asking for this, that and the other,' Small said. 'And then in the end he seems to pull back and it ends up being not as scary as initially thought.' North of the border, the Bank of Canada is set to announce its latest interest rate decision on Wednesday. Small said it's likely the central bank will hold off cutting rates until it can get a clearer picture of Canada's economic health, once second-quarter GDP numbers are in. 'But I think it can go either way at this point.' Statistics Canada is also set to release the May jobs report on Friday, and Small said that should provide a more current view of how well the Canadian economy is faring. The Canadian dollar closed at 72.87 cents US compared with 72.96 cents US on Monday. The July crude oil contract was up 89 cents US at US$63.41 per barrel and the July natural gas contract was up three cents US at US$3.72 per mmBTU. The August gold contract was down US$20.10 at US$3,377.10 an ounce and the July copper contract was down two cents US at US$4.83 a pound. This report by The Canadian Press was first published June 3, 2025. Companies in this story: (TSX: GSPTSE, TSX: CADUSD)
Globe and Mail
30-05-2025
- Business
- Globe and Mail
Why this $400-million money manager is ditching Pfizer and buying the tech dip
Money manager Allan Small has been using the latest market downturn to upgrade his portfolio, selling off what he calls 'B-class' stocks and replacing them with 'A-class' companies that recently went on sale. 'These are names you always wanted to own but were just too expensive,' says Mr. Small, senior investment advisor with Allan Small Financial Group at iA Private Wealth Inc. in Toronto, who oversees more than $400-million in client assets. Examples include some of the big U.S. tech stocks that plummeted in April amid the market turmoil caused by U.S. President Donald Trump's tariff war. 'I've been trying to take advantage of the situation because even though the current president has caused a lot of volatility … he's a businessman and I believe that over his term, the markets will rebound, as they have started to already [since the April selloff],' he says. Mr. Small's portfolios include North American equities and bonds, the mix of which depends on the client's risk tolerance and investment timeline. As of May 26, his average equity portfolios for medium-risk investors returned between 13 and 18 per cent over the past 12 months (the range is due to different asset allocations). The three-year annualized return was about 16 per cent. The performance is based on total returns, net of fees. The Globe spoke with Mr. Small about what he's been buying and selling. Name three stocks you own today and why. Inc. AMZN-Q is a stock I've owned for clients for a couple of decades and continue to buy on dips, including recently when it got down to US$170 a share. I believe Amazon is one of the best companies in the world. I buy it for its diversification across sectors – its cloud business, retail and entertainment, including more recently live sports. I also think it has a strong management team. Even today, at US$200, I think it's a good level to buy because I think it will be a winner over the long term. It's expensive, but rightfully so, in my opinion. It's hard to compare Amazon to other companies. It's in a category of its own. Meta Platforms Inc. META-Q is another stock I buy on the dips, including again recently. We bought Meta when it was down about 30 per cent from its highs, and it's up about 15 per cent so far on that most recent purchase. Meta has great management; chief executive officer Mark Zuckerberg continues to innovate and grow the business. Meta also has a huge presence with its Facebook, Instagram and WhatsApp apps, which are used by more than three billion people daily. It also has a very successful online advertising business. We think it's a great story and will continue to be a winner over the long term. Bank of Nova Scotia BNS-T is a stock we've owned for more than 20 years for clients and bought more of recently in the high-$60 to low-$70 a share range. It has the highest-paying dividend of the major bank stocks in Canada and is a good turnaround story. Scotiabank has been restructuring away from its international business in South America and focusing more on the U.S. I like what it's doing. It will take time, but in the meantime, you're getting a 6 per cent dividend yield while you wait. I own all the banks, but lately my emphasis has been on Scotiabank and Toronto-Dominion Bank TD-T. Name a stock you sold recently. Pfizer Inc. PFE-N is a stock I've been selling aggressively in recent months after holding it in my client portfolios for about 20 years. I got frustrated with the stock. It's been cheap for a few years now, but it's been a value trap in my opinion. Even though the company has expanded its business further into oncology, people still look at Pfizer as a pandemic stock that benefits from vaccines, and people aren't getting those vaccines as much anymore. Still, the company can't seem to shake that reputation. It will, eventually, but it was time to move on. We lost money on the stock but scraped by with a small gain when you factor in dividends paid over the years. This interview has been edited and condensed.
