Tuesday’s session had the S&P unchanged and Toronto up 0.2%.
CRH Medical was up 6.2% in Toronto.
Bombardier had another positive day, up 4.2%. I own a preferred share which has also been rising though not as much as the common.
Statistics Canada reported on building permits in November. Single family starts were down (again) in Alberta.
In regards to the oil and natural gas industry it is activity that matters most to the economy. As prices fell one of the first areas hit was the provincial revenues and company profits were also hard hit. Employment levels took a bit longer to be hit and also recover earlier. My point is that employment might do okay at $55 oil even if provincial royalty revenues remain low and profits remain relatively low. It is activity in the energy patch that drives a lot of other sectors such as hotels and service companies and housing. At last check Alberta’s population was still increasing which should mean that housing activity while lower is not likely going to be in a depression.