Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
The title of Scotiabank strategist Hugo Ste-Marie’s most recent report is blunt – Foreign Investors Show Little Interest in Canadian Equities,
“While the TSX Composite is posting solid gains this year (+10%) and in the past year (+16%), foreign investors show little appetite for Canadian equities. In fact, the latest data from Statistics Canada for the month of June shows that foreign investment in Canadian equity and investment fund shares dropped by C$5.5B … the negative print in June is not a new phenomenon as foreign investors have been constantly reducing their exposure to CDA equities in the past few years. They sold for C$14B worth of stocks this year and C$27B in the past 12 months, which should not come as a surprise given the massive outperformance of US equities (Mag-7 + AI-theme). Interestingly, the divestment in June…
