Perhaps the biggest news in the Canadian markets today was Loblaws Companies plan to spin off its real estate into a separate Real Estate Investment Trust. Loblaw’s shares closed almost 14% higher on the news. Canadian Tire rose 2.3% today, probably because it is also in a position to sell off real estate in some manner.
Costco fell $7.48 today but that was simply because yesterday was the last day to buy and be a shareholder of record by Monday December 10. Those who buy today will not get the special $7.00 dividend.