The TSX closes up today and the Dow went over 10,000 for the first time on earnings and retail data.
The TSX is up 52 per cent since the lows of March 9.
The Canadian dollar continued to edge towards parity with the U.S. currency, up another cent to 97.48 cents U.S.
A weakening U.S. dollar, higher commodity prices and positive Canadian economic data have pushed the loonie substantially higher of late. The loonie, which hasn’t matched the U.S. dollar since May 2008, gained more than three cents last week alone.
The TSX Venture Exchange rose 14.22 points to 1,336.5.
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Financing within Canada also comes with the added benefit of Canadian tax incentive programs such as flow-through shares. Canadian firms are both highly desired for investment within the US, Australia, and Europe, as well as their home Country of Canada. The TSX is one of the largest Stock Exchange Groups in the world, and is an actual exchange, unlike the US OTC. Arguably, a TSX company is of more value than a fully deliverable US firm for these reasons.
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