Pot gives Canadian stocks their best high in 19 years [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Pot gives Canadian stocks their best high in 19 years Pot stocks led Canada’s equity benchmark to its best first quarter since 2000, but strategists are questioning whether the rally has legs after gains slowed in March. The S&P/TSX Composite Index ended the quarter at 16,102.09, up 12 per cent since the beginning of the year and just 3 per cent off its record high of 16,586.46 reached last July. That followed an 11 per cent slump in the fourth quarter. The index isn’t far from the 16,644-level that analysts predicted for the end of 2019, based on estimates gathered in December. “We got in two months what we thought we’d achieve through the course of the year,” Shailesh Kshatriya, director of Canadian investment strategies at Russell Investments, said in a phone interview. “It’s a bit disconcerting.” The gains in global equity markets come down to two main factors: a rebound from the “overly negative move” in the fourth quarter and an increasingly dovish tilt from many of the world’s
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