Canada Attracts Global Investors Amid Market Volatility

Canada's Scotiabank strategist Jean-Michel Gauthier has announced six changes to the SQoRE Canada Top 30 list of top stock picks. The list now includes CES Energy Solutions, Parex Resources, and Tamarack Valley Energy, replacing CURA and EIF in Gold miners. BTE has also replaced PXT in the Energy sector.

The SQoRE Canada Top 30 stocks include a mix of financials, energy, gold miners, and industrials. According to Scotiabank, Canadian banks' outperformance had reached extreme levels in late June and early July, while their valuation levels were at record highs since 2009.

MSCI strategist Raman Aylur Subramanian is touting Canada as an ideal market for global portfolio diversification. He notes that the country's equity market is dominated by financials, energy, and materials, giving it a distinct sector and factor profile. Over half of Canadian-domiciled firms' revenue is earned abroad.

RBC Capital Markets commodity strategist Christopher Louney reports on the Strait of Hormuz traffic and rising U.S. LNG exports. He notes that the risk to seafarers remains an important factor for the industry, as at least 19 seafarers have been killed since the start of the war.