A Third of Canada’s Stock Market May Be Holding the Rally Back
- Country’s big banks are lagging S&P/TSX Composite index
- Even with juicy dividends financials aren’t keeping up
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The stalwarts of Canada’s equity market might be losing their shine and in turn, hampering what could have been an even bigger rally for the nation’s stocks this year.
Financial stocks, which include banks, insurers and asset managers, make up more than 30% of the S&P/TSX Composite Index and have lagged the record-breaking surge on the benchmark in 2019 -- that’s only happened for the second time in nine years, according to data compiled by Bloomberg.