March 17, 2021

Markets moved a bit higher on Wednesday as the FED chair soothingly said that the FED interest rate won’t likley rise until 2023. And they will continue to buy bonds which also tends to keep interest rates low.

Stantec was up 2.1%. The Melcor REIT was up 2.7%. 

Toll Brothers was up 4.2%.

WSP Global was up 2.7%.

West Fraser Timber was down 2.4% although lumber prices remain very high.

Alimentation Couche-Tard reported after the close. Their gasoline volumes were down and overall the report may be considered disappointing. But this is a great company and any material dip is likely a buying opportunity.

Melcor Developments reported after the close. It looked to me a like a good report. They are partially restoring the dividend with an increase form 8 cents to 10 cents. And they seem optimistic for this year and are ramping up land development. But they are still cautious given the COVID situation. Overall, the news should be positive for the share price. However, this company is very little followed and is thinly traded and so there may not be enough people paying any attention to move the share price.

 

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