Canadian equity markets drifted downward throughout the month of June compounded by the preparations for the highly disruptive G20 Toronto meetings starting during the week of June 21st. Canadian investment dealers’ and money managers’ day-to-day activities were severely impacted by the G20 events intertwined with extremely weak worldwide equity markets. In the absence of liquidity, many stocks have been under substantial downward pressure. However, we continue to expect a number of these deeply oversold and fundamentally undervalued shares to rebound significantly over the next 6-12 months.
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