Markets

Canadian Market Update: TSX Saw New Highs Last Week

Index Rebalancing - TSX Preferred Share Index will undergo its quarterly rebalance on Jan 19 th 2018 , full list of changes available here >

4Q17 Canadian Year In Review now available here >

  • The TSX touched fresh all-time highs last week , gaining 1%, though the S&P advanced 2.6%. Volumes were elevated though the breadth of gains was shallower . Small caps underperformed.
  • Marijuana stocks once again propelled Health Care to outperform, +8.7%; these were supported by Materials , Tech , Energy and Financials .
  • Interest rate sensitive stocks underperformed - Utilities , Telco & REITs .
  • Commodities advanced broadly, Oil was up by nearly 2%, while Gold saw a 1% gain.
  • C$ gained 1.3% on the week following a better than expected employment report; HF shorts against the loonie are increasing, net short for the first time since July 2017 .
  • Earnings - some Telco/Media names are reporting this week - CJR, SJR and CCA.

CA economic calendar is light this week with just housing data to be released. In the U.S. , the highlight will be CPI and retail sales data on Friday.

ETF - broad inflows into the CA ETF space helped move us to new highs last week , Financials, Utilities and bond ETFs were the only regions to see outflows. The U.S. S&P500 ETF saw its largest outflow since May2017 , assets rotated into EAFE and Emerging Markets mostly.

Shorts against TSX constituents dropped by 5% in the second half of December , partly due to a closing of end of year bets, though partly due to a continuation of a decrease in bearish sentiment against CA stocks.

Nasdaq Advisory Services Canadian Team is part of Nasdaq's Corporate Solutions Advisory Services -- the most experienced team in the industry. The team delivers unmatched shareholder analysis, a comprehensive view of trading and investor activity, and insights into how best to manage investor relations outreach efforts. For questions about the Canadian market, please contact Prab Sagoo . This communication and the content found by following any link herein are being provided to you by Corporate Solutions, a business of Nasdaq, Inc. and certain of its subsidiaries (collectively, "Nasdaq"), for informational purposes only. Nasdaq makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Sources include Reuters, TR IBES, WSJ, The Financial Times and proprietary Nasdaq research.

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


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