Comeback for Canada Stocks Seen In Vaccine-Led Value Trades
- TSX wins in a global reflation scenario: Bay Street Talk panel
- Shortage of tech and healthcare stocks has limited gains
Pedestrians wearing protective masks pass by TSX ticker in Toronto on Nov. 13.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Value stocks roared to life when Pfizer Inc. announced good results from Covid-19 vaccine trials, triggering a global rotation into some of the sectors most damaged by the pandemic.
Travel stocks including Air Canada soared. Mall owners, crushed by falling foot traffic, rebounded: Walmart Inc.’s Canadian landlord, SmartCentres REIT, jumped 16% in a day. Oil producers caught a bid. Canadian bank stocks, on pace for their second losing year in three, got a lift.