March 3, 2016

Thursday was a positive day in the markets with the S&P 500 up 0.3% and Toronto up 0.8%.

Oil is at $34.68 and the Canadian dollar is at 74.5 cents U.S.

Canadian Western Bank ended the day up 2.9%.

AutoCanada was up 8.2%. I don’t know if that is just a bounce off unrealistic low, the result of an analyst report, or the result of an earnings leak or what. The fact is stocks go up when some buyers bid up the price and their reasons are often not evident.

Stantec was up 3.8%.

Element Financial was up 3.8%.

Bombardier bounced up 9.9% after Trudeau talked kindly about the C-Series plane.

The Q4 investment in home construction was realised by Statistics Canada this morning. Of interest to Melcor owners was the fact that investments in single family homes in Alberta were down 29% versus the year ago quarter. That decline is not surprising. I think Melcor is well capable of adjusting to such a decline. Its profits will be lower but I am fairly certain will still be positive.