Canada Profit Decline Seen in Worst Market Since ’98
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Canadian stocks are poised for their worst year since 1998 relative to global equities as a slowing economy weighs on commodities and analysts predict the first drop in corporate profits in three years.
The Standard & Poor’s/TSX Composite Index dropped 1 percent this year, compared with a 7.9 percent gain for the MSCI World Index. The gap is the biggest over similar periods since 1998, according to data compiled by Bloomberg. The performance in Canadian shares this year has trailed all of the world’s 24 developed markets, except for Greece, Italy, Spain and Portugal.