WRAPUP 2-TD Bank, Canadian Western profits surge, shares up - 03/16/10 07:58 PM
TD adjusted EPS C$1.60 vs expected C$1.35
Two more Canadian banks reported surging profits on Thursday, easily surpassing market expectations, and shares climbed as investors bet the sector had put the financial crisis behind it. Toronto-Dominion Bank (TD.TO) said profit spiked in its financial first quarter as revenue rose to a record C$5.04 billion, while Edmonton-based regional lender Canadian Western Bank (CWB.TO) said its profit climbed 56 percent to a record C$40.0 million.
Shares of TD, Canada's second-largest bank, rose 2.2 percent to C$69.84, near its 52-week high, in late afternoon trade on the Toronto Stock Exchange. CWB's shares were up … (0 comments)

A tough year to try to make a buck - 03/16/10 07:55 PM
The 900-point bungee jump is just about complete. After surging 150 points Friday to close at 11,975.14, Toronto's lead stock market index has clawed its way back to within 25 points of its January high, when it topped 12,000. During the intervening eight-week p-eriod, the S&P/TSX Composite In dex went on quite a roller-coaster ride, bottoming out within a stone's throw of the 11,000 level in late January. So with the wind again at their backs, is it time for investors to play it safe and lock in profits? Or is the market ready to break out of its current -trading … (0 comments)

Tripling of housing starts returns builders to pre-recession levels - 03/16/10 07:53 PM
Builders started three times the number of Edmonton-area homes in February as they did a year earlier -- showing just how far the housing market had fallen last year. But now there are worries that possible higher interest rates and tighter lending restrictions could dampen the rebound's bounce. Total housing starts in the Edmonton census metropolitan area reached 642 in February, compared with 213 in February 2009, Canada Mortgage and Housing Corp. said Monday.
Last month's building activity approached February 2008 levels, when housing starts totalled 692. It was also was the eighth consecutive month of year-over-year increases in housing starts, … (0 comments)

Housing a deal in Atlantic Canada - 03/16/10 07:52 PM
Housing in Atlantic Canada bucked a national trend and got more affordable in the fourth quarter of 2009, says a housing affordability report from RBC Economics. RBC said the proportion of pre-tax household income needed to service the costs of owning a home in Atlantic Canada declined across most housing types in the fourth quarter of 2009, compared with the third quarter.
The detached bungalow benchmark for the region moved down from 31.7 per cent of pre-tax household income to 31.1 per cent, the standard townhouse was unchanged at 26.9 per cent, the standard condominium dipped marginally from 25.6 per cent … (0 comments)

Developer looking south of the border, and likes what he sees - 03/16/10 07:52 PM
We all know about the crushing challenges facing the U.S. economy, from huge budget deficits and sky-high jobless rates to flattened real estate markets. But when Melcor Developments CEO Ralph Young gazes southward, he sees something else -- a resilient behemoth that's slowly, painfully getting its act together. "We've been in the U.S. before (in the 1980s), and we've seen the cycles.
We think the values down there are superior, and in our view, there's much more upside," he says. "You've got to have patient capital. You can't buy in the hope that in six months you're going to realize significant … (0 comments)

 
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