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BMO’s Belski Bets on Trump After Nailing Canada’s 18% Gain

  • Canada stocks best-performing of 24 developed nations in 2016
  • Financials, industrials to advance next year, strategist says
Bloomberg business news

BMO’s Brian Belski Nails Canada’s 18% Gain

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Brian Belski, chief investment strategist at Bank of Montreal, said few believed him last year when he forecast Canadian stocks would emerge from their 2015 drubbing to rocket 18 percent in 2016, outperforming the U.S. for the first time in six years. Today, he’s vindicated.

The Standard & Poor’s/TSX Composite Index ended the year at 15,287.59 points, just shy of Belski’s forecast of 15,300 points, bringing gains for 2016 to 18 percent after an 11 percent slump in 2015. That not only outpaced the 10 percent advance for the S&P 500 but made Canadian stocks the best performing of 24 developed markets. Now Belski’s squaring up for his next bet: that a Donald Trump administration will fire up gains in Canadian bank and industrial stocks.