Latest news with #AllanSmall
Business Recorder
2 days ago
- Business
- Business Recorder
TSX retreats from record high, investors assess US and EU trade deal
Canada's commodity-heavy main stock index scaled back from its record high on Monday, pressured by mining shares, while investors assessed a trade deal between the U.S. and the European Union. The Toronto Stock Exchange's S&P/TSX composite index was down 0.5% at 27,356.44 points. The U.S. struck a framework trade agreement with the EU on Sunday, imposing a 15% tariff on most EU goods and requiring the bloc to invest around $600 billion in the U.S. Other countries are also looking to finalize trade deals before the August 1 tariff deadline. But U.S. President Donald Trump said on Friday the country may not reach a trade agreement with Canada. 'For whatever reason, the U.S. does not feel Canada is important enough to get a deal done, at least with any urgency… and that obviously is a big problem,' said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth. But in general, investors are focused on artificial intelligence, chips, semiconductors and U.S.-China relations at the moment, Small said, adding that if those negotiations go well, 'it is possible that the market could withstand the non-negotiations between Canada and the U.S.' Top U.S. and Chinese economic officials met in Stockholm on Monday to resume talks to resolve longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months. On TSX, mining stocks fell 2.4%, tracking lower gold prices. New Gold slipped the most, down 6.6%, after the company reported second-quarter results. The energy subindex gained 1.2%, tracking higher oil prices. Company-wise, First National Financial said it had agreed to be acquired by private-equity firm Birch Hill Equity Partners and asset manager Brookfield Asset Management in a C$2.9 billion ($2.12 billion) deal. Its shares jumped 13.1%. This week, investors will monitor policy decisions from the U.S. Federal Reserve and the Bank of Canada, and earnings from some 'Magnificent Seven' companies.
Reuters
24-06-2025
- Business
- Reuters
TSX climbs to record high, helped by Middle East ceasefire optimism
June 24 (Reuters) - Canada's main stock index rose to a record high on Tuesday, led by financial and technology shares, as investors cheered a cooling of Middle East tensions and found reassurance in domestic inflation data. The S&P/TSX Composite Index (.GSPTSE), opens new tab ended up 109.26 points, or 0.4%, at 26,718.62, eclipsing the record closing high it posted on June 12. "It's riding on the coattails of what's come out recently in the Middle East," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. "All of a sudden we went from everything around us was negative, to positive once again. That's how fast things can turn and a good example to why investors can't run and hide, (can't) try and time markets." Wall Street also rallied as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell's congressional testimony for clues regarding the U.S. central bank's path forward. Canada's annual inflation rate in May was unchanged from the previous month, at 1.7%, as a drop in gasoline costs continued to keep the overall index stable while prices of shelter, food and transportation also cooled. "The CPI numbers they weren't anything that I thought anyway to be nervous about," Small said. The heavily weighted financials sector rose 1%, while technology ended 2.5% higher, helped by a gain of 4% for e-commerce company Shopify ( opens new tab. Commodity-linked stocks were a drag. The energy sector (.SPTTEN), opens new tab lost 1.5% as the price of oil settled 6% lower at $64.37 a barrel on expectations that the ceasefire will reduce the risk of oil supply disruptions in the Middle East. Energy producers in Alberta, Canada's top oil-producing province, blew past the province's self-imposed limit on annual natural gas flaring in 2024 for a second year in a row, Reuters calculations show. Safe-haven gold also declined, falling 2.5%. The materials sector, which includes metal mining shares, was down 1.7%.
Business Recorder
13-06-2025
- Business
- Business Recorder
TSX falls as Israel's strikes on Iran dampen risk appetite
Canada's main stock index declined on Friday, dragged down by losses in technology shares, as Israel's widescale strikes on Iran dampened global risk appetite. The S&P/TSX composite index was down 0.5% at 26,490.64 points. Israel has warned that the strikes were the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran has promised a harsh response. However, U.S. President Donald Trump urged Iran to make a deal over its nuclear programme, saying there was still time for the country to prevent further conflict with Israel. The downturn in the TSX was limited as investors shifted to safe-haven assets, boosting metal mining shares. The materials sector gained 0.6% The energy sector rose 1.7% to be the top gainer as the tensions in the Middle East sparked worries about supply disruptions, boosting crude prices. 'I don't think it's any surprise that Toronto Stock Exchange is going to hold up greater than New York, which is more based on technology or multinational corporations,' said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth. 'Gold and oil make up a big chunk of our market and anything commodities-based is relatively going to do well'. The technology sector fell 1.5%, while the heavyweight financial stocks were down nearly 1%. The benchmark index achieved a second consecutive record high on Thursday and appears poised to secure its third straight weekly gain, provided losses remain contained.
Mint
06-06-2025
- Business
- Mint
TSX adds to weekly gain as tech and energy shares climb
TSX ends up 0.3% at 26,429.13 For the week, the index gains nearly 1% Energy adds 1.4% as oil settles 1.9% higher June 6 - Canada's main stock index rose on Friday to a new record high, led by gains for energy and technology shares, as oil prices advanced and U.S. and Canadian jobs data eased investor concerns about a possible recession. The Toronto Stock Exchange's S&P/TSX composite index ended up 86.84 points, or 0.3%, at 26,429.13, inching past its record closing high on Tuesday. For the week, the index was up nearly 1%. Canada's economy added 8,800 jobs last month, compared to an expected decline of 12,500, while U.S. job growth also beat expectations. "Jobs are slowing down but still not falling off a cliff and I don't think a recession is imminent as many people are fearing," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. U.S. crude oil futures settled 1.9% higher at $64.58 a barrel, helped by the U.S. jobs data but also optimism about trade talks between the U.S. and China. U.S. President Trump said three of his cabinet officials will meet with representatives of China in London on June 9 to discuss a trade deal. "The pressure is on the U.S. to make some of these deals," Small said, adding that tariffs are unlikely to return to previous sky-high levels proposed by U.S. President Donald Trump. The energy sector rose 1.4% and technology ended 1.9% higher. Heavily weighted financials also posted gains, rising 0.6%. Consumer staples were a drag, falling 0.9%, and the materials group, which includes metal mining shares, ended 1.7% lower as gold and copper prices fell. This article was generated from an automated news agency feed without modifications to text.
Globe and Mail
30-05-2025
- Business
- Globe and Mail
Why this $400-million money manager is ditching Pfizer and buying the tech dip
Money manager Allan Small has been using the latest market downturn to upgrade his portfolio, selling off what he calls 'B-class' stocks and replacing them with 'A-class' companies that recently went on sale. 'These are names you always wanted to own but were just too expensive,' says Mr. Small, senior investment advisor with Allan Small Financial Group at iA Private Wealth Inc. in Toronto, who oversees more than $400-million in client assets. Examples include some of the big U.S. tech stocks that plummeted in April amid the market turmoil caused by U.S. President Donald Trump's tariff war. 'I've been trying to take advantage of the situation because even though the current president has caused a lot of volatility … he's a businessman and I believe that over his term, the markets will rebound, as they have started to already [since the April selloff],' he says. Mr. Small's portfolios include North American equities and bonds, the mix of which depends on the client's risk tolerance and investment timeline. As of May 26, his average equity portfolios for medium-risk investors returned between 13 and 18 per cent over the past 12 months (the range is due to different asset allocations). The three-year annualized return was about 16 per cent. The performance is based on total returns, net of fees. The Globe spoke with Mr. Small about what he's been buying and selling. Name three stocks you own today and why. Inc. AMZN-Q is a stock I've owned for clients for a couple of decades and continue to buy on dips, including recently when it got down to US$170 a share. I believe Amazon is one of the best companies in the world. I buy it for its diversification across sectors – its cloud business, retail and entertainment, including more recently live sports. I also think it has a strong management team. Even today, at US$200, I think it's a good level to buy because I think it will be a winner over the long term. It's expensive, but rightfully so, in my opinion. It's hard to compare Amazon to other companies. It's in a category of its own. Meta Platforms Inc. META-Q is another stock I buy on the dips, including again recently. We bought Meta when it was down about 30 per cent from its highs, and it's up about 15 per cent so far on that most recent purchase. Meta has great management; chief executive officer Mark Zuckerberg continues to innovate and grow the business. Meta also has a huge presence with its Facebook, Instagram and WhatsApp apps, which are used by more than three billion people daily. It also has a very successful online advertising business. We think it's a great story and will continue to be a winner over the long term. Bank of Nova Scotia BNS-T is a stock we've owned for more than 20 years for clients and bought more of recently in the high-$60 to low-$70 a share range. It has the highest-paying dividend of the major bank stocks in Canada and is a good turnaround story. Scotiabank has been restructuring away from its international business in South America and focusing more on the U.S. I like what it's doing. It will take time, but in the meantime, you're getting a 6 per cent dividend yield while you wait. I own all the banks, but lately my emphasis has been on Scotiabank and Toronto-Dominion Bank TD-T. Name a stock you sold recently. Pfizer Inc. PFE-N is a stock I've been selling aggressively in recent months after holding it in my client portfolios for about 20 years. I got frustrated with the stock. It's been cheap for a few years now, but it's been a value trap in my opinion. Even though the company has expanded its business further into oncology, people still look at Pfizer as a pandemic stock that benefits from vaccines, and people aren't getting those vaccines as much anymore. Still, the company can't seem to shake that reputation. It will, eventually, but it was time to move on. We lost money on the stock but scraped by with a small gain when you factor in dividends paid over the years. This interview has been edited and condensed.
