Mutual fund investors are on pace to sell Canadian stocks for the 10th straight quarter as slumps in shares from Detour Gold Corp. to BlackBerry Ltd. weigh on the developed world’s third-worst performing equity market.
Rising prices for raw materials including copper and fertilizer will help companies led by Teck Resources Ltd. and Agrium Inc. post the first earnings gain in three quarters as the global economy picked up steam, strategists such as Robert Gorman said.
Intact Financial Corp. , Canada’s largest property and casualty insurer, will buy Axa SA ’s Canadian business for C$2.6 billion ($2.7 billion) to bolster its premiums in the country by almost 50 percent.
Sun Life Financial Inc. rallied 40 percent last year as investors rewarded decisions to shed riskier assets and emphasize insurance and wealth management. Chief Executive Officer Dean Connor says the narrower focus can still boost earnings in 2013.