On Wednesday, markets edged upwards once again. The S&P 500 was up 0.2% and Toronto was up 0.35%.
Linamar was up another 2.5%.
AutoCanada bounced up 3.6%
Couche-Tard was up 2.5%
RIWI was down 8.4% to $2.61. It’s speculative but worth considering at this price.
I spoke to the investor relations person at Melcor today. I learned nothing negative and a few positive things. The home building industry (and therefore the sale of Melcor’s building lots has held up better than expected and certainly better than feared. I continue to view the Melcor shares as substantially under valued.
Canadian Western Bank will release results on Friday morning. While there can be surprises, I suspect the earnings will be reasonably good. One risk here is that they have some large loans where a bad debt situation can be relatively material. But overall, I expect their bad debt to remain manageable.