Latest news with #AllanSmall
Mint
2 days ago
- 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.
Yahoo
11-04-2025
- Business
- Yahoo
Canadian, U.S. markets close higher, capping off topsy turvy week
Canadian and U.S. stocks closed higher Friday, capping off a tumultuous week that saw nausea-inducing drops and intense spikes driven largely by tariff headlines out of the United States. "It's been a topsy-turvy day, like every day," said Allan Small, senior investment adviser at the Allan Small Financial Group with iA Private Wealth. "I don't recall seeing markets this jittery, this jumpy." Canada's main stock index closed up 572.93 points, or 2.5 per cent, to 23,587.80. In New York, the Dow Jones industrial average closed up 619.05 points at 40,212.71. The S&P 500 index rose 95.31 points to 5,363.36, while the Nasdaq composite was up 337.14 points at 16,724.46. The Canadian dollar traded for 71.99 cents US compared with 71.35 cents US on Thursday. Small said there were positive nuggets of news by week's end, such as better-than-expected U.S. inflation data, strong earnings reports from big American banks and comments from the U.S. Federal Reserve Bank of Boston's president that the Fed could step in if issues around market functioning or liquidity arise. But Small said investors are much more closely watching the machinations around U.S. tariffs. "The economic data, corporate earnings data, just doesn't hold a candle to politics," he said. "Even the slightest rumour or conversation, whether or not it actually happens, can move markets far more than any of the economic data you're going to put in front of investors today." Markets soared earlier in the week after U.S. President Donald Trump said he would pause some of the "reciprocal" tariffs against global trading partners, though he kept the 10 per cent baseline levy in place. Markets reversed course a day later as the U.S. trade war with China ramped up. Small is advising everyday investors not to get hung up on the day-to-day swings, and instead scope out buying opportunities for quality stocks. "A lot of those big names, leaders in their industry and sectors, have dropped significantly — leaders in tech, leaders in banks, leaders really right across the board. No matter what sector, it seems as though everything is taking a hit. So it is a good time to buy for the future," said Small. "Don't look day to day. The numbers you see on the screen or on your statement, obviously they're real ... But it doesn't become reality until you sell ... The reasons why they're falling are skewing the real value of those shares." The May crude oil contract settled up US$1.43 to US$61.50 per barrel and the May natural gas contract was down three cents US at US$3.53 per mmBTU. The June gold contract was up US$67.10 at US$3,244.60 an ounce and the May copper contract was up 19 cents US at US$4.52 a pound. This report by The Canadian Press was first published April 11, 2025. Companies in this story: (TSX: GSPTSE, TSX: CADUSD) Lauren Krugel, The Canadian Press
Reuters
25-02-2025
- Business
- Reuters
TSX falls mirroring Wall Street despite positive bank earnings
Feb 25 (Reuters) - Canada's main stock index fell on Tuesday, tracking its Wall Street peers' decline, while positive bank earnings did little to improve sentiment. The S&P/TSX composite index (.GSPTSE), opens new tab was down 0.76% at 24,962.54. The tech-heavy Nasdaq-led Wall Street fell to a six-week low on Tuesday after fresh data pointed to deteriorating consumer mood and investors braced for the potential impact of tighter U.S. trade controls on Beijing. A report late on Monday said the U.S. was planning more restrictions on Nvidia's chip exports to China. On TSX, too, the information technology (.SPTTTK), opens new tab shares lost the most, down 2.6%. The energy sector (.SPTTEN), opens new tab dropped 1.9% as oil prices tumbled. Materials (.GSPTTMT), opens new tab also weighed on the index after gold prices fell as investors booked profits following a record high in the previous session. Further tempering risk-taking, U.S. President Donald Trump on Monday stated tariffs on Canadian and Mexican imports remain "on time and on schedule," despite both countries' efforts to enhance border security and curb fentanyl flow into the U.S. before the March 4 deadline. Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth, called the comments "a big negative." On the positive side, heavily-weighted financials (.SPTTFS), opens new tab gained 0.42%. Bank of Nova Scotia ( opens new tab and Bank of Montreal ( opens new tab on Tuesday beat analysts' expectations for quarterly profit, driven by strong income from capital markets and wealth management businesses. Both banks said they would wait for clarity on U.S. government tariffs to build more rainy-day reserves and take actions to manage risks. Bank of Montreal gained 4.4%. Bank of Nova Scotia, however, fell 2.1%. Other top lenders are also set to report later in the week. Real estate (.GSPTTRE), opens new tab and utilities (.GSPTTUT), opens new tab sectors also rose in the day as Canada's 10-year benchmark yield fell to 2.986%.
