Robert Gorman, who seeks dividend growth as chief portfolio strategist for Toronto-Dominion Bank’s TD Wealth unit, says companies are right to hold large cash reserves now so they can use the funds to expand as the economy improves.
Canola tumbled to a three-year low, leading declines across grains and oilseeds, on signs farmers have harvested a record crop in Canada, the world’s biggest grower. Wheat and soybeans capped weekly losses.
Canadian Prime Minister Stephen Harper said developing the world’s third-largest pool of oil reserves is as difficult as building China’s Great Wall. Chinese companies may find themselves outside looking in.
The Canadian dollar appreciated for the first time in five days, rising from a more than three-year low, amid speculation employment growth may suggest stronger economic improvement than the Bank of Canada indicated.