Foreign Buying of Canadian Securities Reaches Highest in a YearGreg Quinn
Foreign investors made the biggest purchase of Canadian securities in a year in April, buying stocks and selling government debt for an eighth straight month.
Purchases totaled a net C$10.1 billion ($9.3 billion) in April, rebounding from March’s net sale of C$1.41 billion, Statistics Canada said today in Ottawa.
Foreign investors bought C$3.64 billion of stocks in April as equity prices reached the highest since May 2008. Investors also bought C$4.10 billion of money-market paper led by provincial government securities, the agency said today.
The April purchase still leaves year-to-date foreign demand for Canadian securities of C$16 billion below the C$24.5 billion total for the same period last year. Demand for federal government bonds has been the chief drag, with a net sale of C$8.92 billion so far this year following a purchase of C$7.85 billion from January to April 2013.
Canadians bought C$2.49 billion of foreign securities in April, with a net stock purchase of C$3.51 billion offsetting a C$1.03 billion sale of debt instruments.