MARKET SUMMARY— Canadian equities continued to struggle in the third quarter with the S&P/TSX Composite delivering a total return of 1.37%, negatively impacted by losses in Energy (-5.7%), Materials (-12.9%) and Consumer Discretionary stocks (-8.0%). Counteracting the negative; Financials, Health Care and Technology trended upward, keeping the index total returns in positive territory on a year-to-date basis.
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MARKET SUMMARY— Extending the exuberance that the broader markets enjoyed through the fourth quarter of 2017 into the early part of the new year, Canadian equities started off 2018 strong but experienced a sharp pull back by late January, raising memories of 2008 and feeding fears that high current valuations and a protracted bull cycle might be signaling an inflection point.
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Summit Private Wealth & Mandeville Private Client Inc. are proud to introduce Gustave Ruano to our team in Montreal. Gustave has more than 15 years of financial services experience including one of Canada’s major bank owned firms as well as other major independent dealerships. Gustave will be a welcome addition to our team and brings with him his exemplary level of client service and professionalism.
Summit Private Wealth was recently featured in WealthProfessional.ca – Please see Jonathan Showers’ feature – you can access it here.
MARKET SUMMARY— Canadian equity markets rallied in the second half of the year but stock performance lagged on a global relative basis despite Canada having one of the strongest performing economies of the G7 in 2017. The TSX Composite and Venture returned 9.1% and 11.6% respectively for 2017. The Bank of Canada cautiously maintained the overnight rate at 1% in December amidst a robust economic backdrop, NAFTA uncertainty and timid inflation.
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