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Stock impact report

Canadian wealth surges as markets reward the top 20% [Wealth Professional (Canada)]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Canadian households just posted the biggest jump in financial assets on record — and wealth is piling up fastest among older, higher-income Canadians who already own markets and property. According to Bloomberg , Statistics Canada data show household net worth hit $18.4tn in the third quarter as financial assets surged by $532.4bn, the largest increase since records began in 1990. Financial assets now make up 54 percent of total household assets, while land and dwellings account for 41 percent. Statistics Canada said these gains were “likely not evenly distributed among households,” noting that the wealthiest top 20 percent hold nearly 70 percent of all financial assets, leaving them “best positioned to benefit” when markets rally. North American equity markets helped drive the move. Bloomberg reported that Canadian financial assets got a lift from a rebound in equities, strength in artificial intelligence-related stocks, higher gold prices and better performance from the b Show less Read more
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