On Thursday, the S&P 500 was up 0.5% while Toronto was down 0.3%.
Linamar was up another 4.5% top $61.06. I suspect it was upgraded by some analyst(s) since there does not seem to be any NAFTA news to explain it.
Toll Brothers was down 1.6% to $36.35. Based on its P/E ratio and price to book, this stock looks more attractive than it has at any time since I first looked at it in 2011. But Home builders are an unpopular sector at this time probably mostly due to fears about higher interest rates.
Dollarama was down 17% after posting results and an outlook that fell short of expectations. I intend to update the report on this company soon.
Statistics Canada reported the change in the new home price index for July. There was very little change in any Canadian City from June to July. Year-over-year, the top gainers were Ottawa region (Ontario side only) at 4.8% and London at 4.4%. Top decliners were Toronto down 1.2% and Regina also down 1.2%. Given my position and rating on Melcor Developments, Alberta is always of great interest and year over year Edmonton was unchanged and Calgary was down 0.3%. Based on this data, new home prices from builders have been resilient with little change in response to new mortgage rules and higher interest rates. This index covers single family dwellings including row-houses but not condos.