S&P/TSX HAS BANNER FIRST HALF
Canada's main stock exchange scored its best first half since the financial crisis of more than a decade ago, helped by investors piling into value and cyclical equities as the economy revives. The S&P/ TSX Composite index climbed about 16 per cent so far this year, outpacing the S&P 500 and MSCI World Indexes. The benchmark last climbed more than 15 per cent in the first half of a year in 2009, coming out of the financial crisis of 2008.
Some of the best-performing sectors in Canada this year were energy and financials — both of which are beneficiaries of the global economy reopening after the pandemic-driven downturn. If the market continues to expect better economic growth and higher interest rates, the two investing strategies should continue to outperform, said CIBC'S strategist Ian de Verteuil said in a note.