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(CHANGES REFLECT CREA NUMBERS FOR SEPTEMBER)
Futures for Canada’s main stock index were higher on Friday, tracking its U.S. peers, while investors awaited manufacturing and trade data for August.
The TSX Composite popped 407.35 points, or 2.2%, to close Thursday at 18,613.63.
December futures gathered 0.2% on Friday.
The Canadian dollar dipped 0.24 cents to 72.42 cents U.S.
Among single stocks, Turquoise Hill Resources said its fifth-biggest investor, SailingStone Capital Partners, said that it will vote against Rio Tinto Group’s $3.3-billion bid for the company, during a shareholder meeting on Nov. 1.
Friday’s macroeconomic slate is a busy one, with August wholesale trade up 1.4% for August, while manufacturing sales declined 2.0% mainly on lower sales of petroleum and coal, chemical and primary metal products industries.
The Canadian Real Estate Association reported National home sales were down 3.9% on a month-over-month basis in September. Actual (not seasonally-adjusted) monthly activity came … Read more
Real estate companies are aggressively investing in the Argentina. According to Buenos Aires Habitat, “There is stability in the Argentine real estate market, due to the lack of mortgages and credit granted to buyers. This ensures that no property bubble is allowed to inflate and prices will remain the same in the future. In the long term, property investments will always resist economic crises. Despite the ups and downs of the Argentine economy, real estate prices have steadily risen.” In addition, according to Gaucho Group Holdings Inc. (NASDAQ: VINO), “Construction costs, now in pesos is roughly $70 U.S. dollar per square foot. So, it’s inexpensive to build. Plus, with cheaper labor, the time to build is now.” Other companies benefiting from the story include IRSA Inversiones y Representaciones Sociedad Anónima (NYSE: IRS), Cresud (NASDAQ: CRESY), Airbnb Inc. (NASDAQ: ABNB), and Jones Lang LaSalle Inc. (NYSE: JLL).
“It has been said … Read more