Canada’s Big Five are continuing their rally and climbed to one of their highest levels on June 14. The share prices of all five leading players rose more than 3% against the downward trend of Canada’s main stock index. The Bank of Montreal’s (TSX: BMO) share price rose the most, by 8.8%, to C$81.48 (US$63.99). Investors with stock in the Canadian Imperial Bank of Commerce (TSX: CM) have welcomed the rise, with the stock performing solidly over the past months. It has risen 7.37% from C$94.36 (US$74.1) on June 15, 2015, while the Toronto-Dominion Bank (TSX: TD) has advanced 3.02% year-on-year to C$55.86 (US$43.87).
For the second half onwards, as long as the US and world economy remain on track, Canadian banking stocks should provide attractive opportunities to investors. Mergent believes that there will likely be a strong positive tailwind for Canadian stocks from any favorable reports coming from emerging markets in the Asia-Pacific, Europe and on commodity prices. #MergentInc #industryreports #banking
(Currency exchange rates as of June 10, 2016)