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Toronto Stocks Seen Trailing U.S. Market for Third Year

Canadian stocks will trail U.S. equities for a third straight year in 2013 as economic growth fails to keep pace with a global recovery, a survey of strategists found.

The Standard & Poor’s/TSX Composite Index is expected to finish next year at 12,886, up 4.1 percent from the Canadian gauge’s level on Dec. 27, according to the average estimate of seven strategists surveyed by Bloomberg. The S&P 500 Index will advance 8 percent in 2013, based on the average estimate of 14 strategists. The U.S. benchmark measure last underperformed the S&P/TSX in 2010, the end of a seven-year streak of outperformance by the Canadian index.