{"id":45521,"date":"2018-09-11T11:47:00","date_gmt":"2018-09-11T11:47:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2018\/09\/commentaire-du-gestionnaire-de-portefeuille-aout-2018\/"},"modified":"2018-09-11T11:47:00","modified_gmt":"2018-09-11T11:47:00","slug":"commentaire-du-gestionnaire-de-portefeuille-aout-2018","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2018\/09\/commentaire-du-gestionnaire-de-portefeuille-aout-2018\/","title":{"rendered":"Commentaire du gestionnaire de portefeuille – Ao\u00fbt 2018"},"content":{"rendered":"

L’indice de rendement total S&P\/TSX a termin\u00e8 le mois en baisse de -0,82% car le Canada et les \u00c9tats-Unis n’ont plus parvenir \u00e0 un accord trilat\u00e8ral. De plus, Trump a durci sa position contre la Chine en mena\u00e7ant d’imposer des droits douaniers sur des marchandises import\u00e8es de Chine d’une valeur de 200 milliards de dollars. Enfin, les march\u00e8s ont connu des difficult\u00e8s avec la hausse des risques de contagion en provenance de la Turquie et de l’Argentine. Notre indice d’actions canadiennes Nasdaq Inovestor (NQICA) a augment\u00e8 de 1,30% pour la m\u00eame p\u00e8riode, soit 212 points de base de plus que l’indice de r\u00e8f\u00e8rence. Notre allocation sectorielle a contribu\u00e8 \u00e0 -26 points de base, car notre surpond\u00e8ration dans le secteur discr\u00e8tionnaire et notre sous pond\u00e8ration dans le secteur de sant\u00e8 s’est av\u00e8r\u00e8 d\u00e8favorable. Or, notre s\u00e8lection de titres a contribu\u00e8 \u00e0 238 points de base, certaines actions ayant surperform\u00e8. Vous trouverez ci-dessous les trois premiers et les trois derniers contributeurs \u00e0 la performance.<\/p>\n

\u00a0<\/p>\n

Les trois principaux contributeurs \u00e0 la performance \u00e8taient:<\/p>\n

    \n
  1. Norbord (OSB:CN)<\/strong>, un fabricant de panneaux \u00e0 base de bois, a bondi de 15,4% apr\u00e8s avoir publi\u00e8 un solide b\u00e8n\u00e8fice au deuxi\u00e8me trimestre de 2018: un b\u00e8n\u00e8fice par action de 2,50$ (mieux de 0,41$) sur un chiffre d’affaires de 920,2M$ (mieux de 65,3M$).<\/li>\n
  2. Gildan Activewear (GIL:CN)<\/strong>, un fabricant de v\u00eatements a progress\u00e8 de 15,2% apr\u00e8s avoir d\u00e8pass\u00e8 les attentes dans ses r\u00e8sultats du deuxi\u00e8me trimestre de 2018: un b\u00e8n\u00e8fice par action de 0,99$ (mieux de 0,29$) pour un chiffre d’affaires de 994,6M $ (contre 48 M$).<\/li>\n
  3. TFI International (TFII:CN)<\/strong>, un fournisseur de services de transport et de logistique bas\u00e8 \u00e0 Montr\u00e8al, a augment\u00e8 de 12,1% apr\u00e8s avoir affich\u00e8 de solides r\u00e8sultats au deuxi\u00e8me trimestre de 2018 et nomm\u00e8 Leslie Abi-Karam \u00e0 son conseil d’administration le mois dernier.<\/li>\n<\/ol>\n

    \u00a0<\/p>\n

    Les trois derniers contributeurs \u00e0 la performance \u00e8taient:<\/p>\n

      \n
    1. Metro (MRU:CN)<\/strong>, un d\u00e8taillant en alimentation, a recul\u00e8 de 6,8% apr\u00e8s avoir d\u00e8clar\u00e8 un b\u00e8n\u00e8fice inf\u00e8rieur au troisi\u00e8me trimestre de 2018 sur les co\u00fbts d’acquisition de Jean Coutu: un BPA de 0,75$ (pire de 0,03$) sur un chiffre d’affaires de 4,64M$ (en ligne).<\/li>\n
    2. Canadian Tire (CTC.A:CN)<\/strong>, une cha\u00eene commerciale de vente au d\u00e8tail, a baiss\u00e8 de -7,8% apr\u00e8s avoir rat\u00e8 les attentes des analystes dans ses r\u00e8sultats du deuxi\u00e8me trimestre de 2018: un BPA de 2,6$ (pire de 0,45$) sur les revenus de 3,48B$ (pire de 0,06B$).<\/li>\n
    3. Magna (MG:CN)<\/strong>, un fabricant de pi\u00e8ces automobiles, a chut\u00e8 de -10,3% apr\u00e8s avoir publi\u00e8 un b\u00e8n\u00e8fice faible au deuxi\u00e8me trimestre 2018, o\u00f9 la marge d’exploitation est tomb\u00e8e \u00e0 7,8% et la direction a r\u00e8duit ses pr\u00e8visions pour l’exercice fiscal de cette ann\u00e8e.<\/li>\n<\/ol>\n

      \u00a0<\/p>\n

      Salutations,<\/p>\n

      Fran\u00e7ois Soto CFA, MBA, FRM, CIM<\/p>\n","protected":false},"excerpt":{"rendered":"

      L’indice de rendement total S&P\/TSX a termin\u00e8 le mois en baisse de -0,82% car le Canada et les \u00c9tats-Unis n’ont plus parvenir \u00e0 un accord trilat\u00e8ral. De plus, Trump a durci sa position contre la Chine en mena\u00e7ant d’imposer des droits douaniers sur des marchandises import\u00e8es de Chine d’une valeur de 200 milliards de dollars. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[155,156],"tags":[163,162],"class_list":["post-45521","post","type-post","status-publish","format-standard","hentry","category-en-vedette","category-portefeuille-modele","tag-canada","tag-nqicat"],"acf":[],"yoast_head":"\nCommentaire du gestionnaire de portefeuille - Ao\u00fbt 2018 - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/fr-ca\/2018\/09\/commentaire-du-gestionnaire-de-portefeuille-aout-2018\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commentaire du gestionnaire de portefeuille - Ao\u00fbt 2018\" \/>\n<meta property=\"og:description\" content=\"L’indice de rendement total S&P\/TSX a termin\u00e8 le mois en baisse de -0,82% car le Canada et les \u00c9tats-Unis n’ont plus parvenir \u00e0 un accord trilat\u00e8ral. 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