Canada Stocks Seen Grinding Higher in 2013: Reuters Poll

By Midnight Trader,  December 13, 2012, 02:31:50 PM EDT

Canadian stocks are set to rise next year, as recovering Chinese growth is expected to boost natural resource companies and deadlocked U.S. budget talks should be resolved, a Reuters poll of analysts predicted.

The median forecast in poll of 30 market strategists taken in the past week is for the Toronto Stock Exchange's benchmark S&P/TSX composite index to climb to 13,000 by the end of next year.

"We believe the United States will come to terms with their fiscal cliff and the markets will rally marginally on the solution," said Arthur Salzer, chief executive of Northland Wealth Management.

"This should be positive for financial stocks and a slight negative for areas such as the gold miners."

Salzer and other analysts said they thought energy stocks were especially cheap and the sector could get a boost from further acquisitions, helping to lift the broader market.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



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