The S&P\/TSX Total Return Index rose by 0.34% in July, the S&P 500 by 1.44% and the MSCI ACWI ex. USA declined by 1.18%. At July end, the YTD S&P\/TSX Total Return Index was up 16.62% which was lower than the S&P500 (20.24%) but higher than the MSCI ACWI ex. USA of 12.65%.<\/p>\n
The market met new highs in July before retracing some of that gain as trade disputes dampened and long-term treasury rates fell to historical lows. At month\u2019s end, the US 10-year treasury yield crossed the 2% mark to the low side.<\/p>\n
The best TSX sector in July was Consumer Discretionary up 3.4%, followed by Information Technology, up 3.2%. On the contrary, the worst-performing sector was Health Care principally due to the performance of the Cannabis sector.<\/p>\n
Looking more specifically at INOC, the best performers in July were Equitable Group\u00a0(+27.01%),\u00a0a Canadian bank with the majority of its business involved in residential mortgages with prime and non-prime, who reported better than expected figures for Q2 results. The next best performer was Parex Resources Inc.\u00a0(+7.38%),\u00a0an oil producer with assets in Colombia, whose gains were due to the rally in oil prices last month.<\/p>\n
On the other hand, the weakest contributor to INOC was Stella Jones (SJ), which was down 12.89%. News in regard to the departure of the company\u2019s long-standing CEO caused the market to react negatively. The other negative contributors were Norbord (OSB) and Linamar (LNR).<\/p>\n
\n","protected":false},"excerpt":{"rendered":"
The S&P\/TSX Total Return Index rose by 0.34% in July, the S&P 500 by 1.44% and the MSCI ACWI ex. USA declined by 1.18%. At July end, the YTD S&P\/TSX Total Return Index was up 16.62% which was lower than the S&P500 (20.24%) but higher than the MSCI ACWI ex. USA of 12.65%. The market […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[123,55],"tags":[163,161,162],"class_list":["post-38648","post","type-post","status-publish","format-standard","hentry","category-featured","category-modelportfolio","tag-canada","tag-model-portfolio","tag-nqicat"],"acf":[],"yoast_head":"\n