Late last week, the markets took a little breather from making investors richer almost daily. On Monday, stock markets got back to work making up even for the weekend with the S&P 500 rising 1.4% and Toronto up 0.8%.
The energy ETF, XEG, was up 4.5%. American Express was strong with a 4.25% gain. Linamar was up 4.0%, WSP Global was up 3.7%.
Couch-Tard was down 3.0%
Alberta continues to see strong housing starts data in May with single-family detached starts up 77% (versus May 2020) to 1121. This along with higher oil prices bodes well for Melcor Developments. True, it has been a disappointing investment. But it is trading well below book value and it appears that 2021 is shaping up to be a very good year for Melcor.