In
November, for the first time since January 1999, Canadian imports have
known a slight downturn with a drop of 0.2%, reaching 28.2 billion. This
drop is due to a decrease in computer, compressor, telecommunication material
and livestock purchases. Regarding exports, they rise to 31.3 billion,
which represents an increase of 1.4%. This increase is essentially related
to high technology product exports, notably nuclear, electronic and aeronautic
products, and, to a lesser extent, to mineral and natural gas exports.
The trade balance reaches a surplus of 3.1 billion.
In December, the consumer price
index has registered an annual increase of 2.6%. This increase is due to
energy products such as : fuel, fuel oil and natural gas. Energy being
excluded, the index has increased by 1.6%. Comparatively to December 1998,
fuel price has increased by 26.5% and fuel oil by 28.4%. According to Statistics
Canada, jobs have increased by 42,000 during December. The unemployment
rate remains the same at 6.9%. During 1999, 355,000 jobs have been created,
allowing a decrease of the unemployment rate by 1.1%.
Did you know ...
Standard & Poor's, a specialist in index construction, will bring
a few changes in the S & P/TSE small capitalisation Canadian index.
In so doing, since January 21, MGI Software Corporation and Norsat International
Inc. securities have been replaced by Philip Services Corp. and Probe Exploration
Inc. securities.
BCE is reducing its position in its subsidiary Nortel Networks. After
the closing of markets, on January 26, BCE has announced that it would
keep a 2% position in Nortel Networks. Jean C. Monty, president and chief
executive officer, will use this money to finance future acquisitions for
BCE.
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Nortel
Networks has been the first Canadian company to reach the $200-billion
market capitalization mark. In the past four months, Nortel Networks has
doubled its capitalization from $100 to $200 billion. This company is listed
on three stock exchanges: New York, Toronto and London. Its pronounced
growth is due to Internet expansion. In fact, Nortel Networks develops
products that account for 75% of the Internet data traffic in North America.
News
RRSP funds' popularity continues to grow. On January 5th, SVC O'Donnell
Funds Management has launched four new 100% RRSP eligible funds: O'Donnell
World Equity RSP, O'Donnell U.S. Mid-Cap RSP, Strategic Value Europe RSP
and Strategic Value World Balanced RSP. These funds are initially quoted
at $5 per share.
Mackenzie has launched two new specialized funds: Universal Ethical
Opportunities and Universal Health Sciences.
Since February 1, 2000, James Catudal has been in charge of the Fidelity
RSP Focus Financial Services Fund, taking over from Bob Ewing. Mr. Catudal
is also responsible for two financial service funds available to the American
investors.
Dynamic Partners Fund management is adopting a new style. Previously
under the value approach, the management is now using a combination of
value, growth and selected shares. This multidimensional approach follows
the trend where the large pension funds vary their share portfolio style.
Since January 31, 2000, Fidelity Investments Canada Limited offers
a range of new funds with a high foreign content that are 100% RRSP eligible.
These new funds are: Fidelity RSP European Growth, Fidelity RSP Far East,
Fidelity RSP Growth America, Fidelity RSP Japanese Growth, Fidelity RSP
Overseas, Fidelity RSP Focus Financial Services, Fidelity RSP Focus Health
Care and Fidelity RSP Focus Technology.
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