On Thursday, the S&P 500 was down 0.5% and Toronto was down 0.4%.
Shopify was up 2.9%.
Constellation Software was up 3.5%.
AutoCanada was up 3.7%. September light vehicle sales were released today (amazing that we get them this quick). and showed a slight increase for this September versus last year. That is the first year-over-year increase in a long time. That bodes well for AutoCanada.
After the close the Boston Pizza Royalties Income Fund announced that distributions will be reinstated this month at 6.5 cents per unit. That’s lower than the 10.2 cents that it was prior to the shutdowns and lower than the 11.5 cents that applied since early 2016 until it was reduced in early 2020. But it is higher than I would have expected. BP’s royalty sales in August had recovered to 84% of the August 2019 levels and July was at 81%. That seems impressive. BP closed at $5.41 today, so the yield would be 14.4% on that price. Even considering that we are in for more restaurant restrictions in Quebec and probably soon in Ontario, these PB units would seem attractive at this price. I would expect a significant jump in price at the open on Friday morning.