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Foreign Buying of Canada Securities Almost Doubles in September

Nov. 16 (Bloomberg) -- Foreign net purchases of Canadian securities almost doubled in September from the month before on government bond sales, the federal statistics agency said.

Purchases totaled C$13.9 billion ($13.9 billion) in September and the estimated August purchase was increased to C$7.56 billion from an initial C$6.90 billion, Statistics Canada said today in Ottawa.

Total purchases included C$8.94 billion of government bonds and C$1.52 billion of money-market paper, the report said. Non-Canadians purchased a net C$3.29 billion of the country’s stocks, led by shares of financial companies.

Year-to-date securities purchases of C$62.7 billion trailed last year’s comparable total of C$70.1 billion, Statistics Canada said.

Canadians bought a net C$6.03 billion of foreign securities in September, following a sale of C$1.68 billion in August, led by C$4.45 billion of stocks and C$1.58 billion of debt. The September purchases included C$1.73 billion of Maple bonds, Canadian-dollar debt issued by foreign organizations, the most since October 2007.

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editors responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net; David Scanlan at dscanlan@bloomberg.net.

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