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11 May 2007
2 May was the 2nd day of the eleventh month of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
2 May 2007
Bloomberg News - Canadian stocks rise on profit optimism (2 May 2007) Canadian stocks had their biggest gain in six weeks after better-than-expected earnings at Rogers Communications Inc. and Barrick Gold Corp. fanned optimism that profits will continue to expand. The TSX Composite Index rose 172.41, or 1.3 per cent, to 13,578.74, its biggest gain since 21 March. Canadian Imperial Bank of Commerce's chief strategist for Canada, Jeff Rubin, increased his forecast for the country's main stock benchmark. 'We've raised our estimate of annual earnings growth for the TSX to 16 per cent from 14 per cent.' Rogers Communications Inc., Canada's largest mobile-phone company, gained C$1.62, or 3.8 per cent, to a record C$44.23. Barrick Gold, the world's biggest bullion miner, climbed C$1.56, or 5 per cent, to C$32.71 for its biggest gain in 18 months. Technology shares rose 2.5 per cent, the most among the TSX's 10 industry groups.
CBC News - TSX to hit 15,000 by year-end: CIBC World Markets (2 May 2007) CIBC World Markets is forecasting that takeover fever will help to drive the benchmark index of the TSX to 15,000 by year's end, implying a 10 per cent advance from here. That's up 750 points from an estimate it made just two months ago. A year-end level of 15,000 would represent a total return for the year of 18.5 per cent and would mark the fifth consecutive year of double-digit growth for the index.
Reuters Canada - Small-cap market makes big gains (27 April 2007) Like the bigger Toronto Stock Exchange, the small-cap TSX Venture Exchange's composite index has climbed steadily since the fall, hitting a record high of 3,371.57 last week. ('Small-cap' refers to stocks with a relatively small market capitalization; the TSX Venture Exchange is home to many small resource companies.)
Bloomberg News - Canadian dollar rises as economic strength lures investors (2 May 2007) Canada's dollar strengthened to an eight-month high as the nation's economic strength attracted investors. The Canadian dollar has gained six straight weeks, the longest rally since 2003. The currency passed 90 US cents earlier this week for the first time since September. The currency rose to 90.20 US cents at 4.20 p.m. from 90.01 US cents yesterday. Canada's dollar strengthened against all 16 most actively traded currencies except the Brazilian real.
CBC News - Car sales hit 4-year high in April (1 May 2007) New car dealers in Canada had their best sales month in almost four years in April. Almost 169,000 cars and light trucks were sold in Canada last month. That's up nine per cent from the same month last year and the highest sales total for any month since May 2003.
From a Toronto Star report on this: The Canadian auto industry has smashed its sales record for April. Industry watchers said Ottawa's new programme in March's federal budget contributed to the strong gain. The programme gives motorists up to C$2,000 if they buy a new auto that meets strict fuel efficiency criteria. In Ontario, consumers can also get tax credits of up to C$2,000 for eligible fuel-efficient models.
The Globe and Mail - Charities eye rich gains from tax cut on stock donations (1 May 2007) This is the one-year anniversary of the exemption from capital gains tax for donations of publicly listed securities to public charities. 'We expect that when the data are finally published, they will show a surge in donations of shares in 2006,' said Craig Alexander, Toronto-Dominion Bank deputy chief economist. 'Many Canadians still tend to think of cash first when in many cases it makes more sense to make contributions of securities.' The article states that 'He offered an illustration of shares bought at C$400 which appreciated to C$1,000. If the shares are sold and the cash donated, then the C$600 capital gains will be taxed as if 50 per cent were income. Assuming the individual is in Ontario and is in the top tax bracket and therefore is taxed at a combined federal-provincial marginal tax rate of 46.41 per cent, the resulting capital gains taxes are C$139.23, reducing the donation to $860.77. That individual would get a tax credit of C$399.48. But if the shares were donated directly, the tax credit climbs to C$464.10 and the C$139.23 in capital gains tax is avoided, which means the charity gets C$1,000 and the donor gets a benefit of more than C$600.'
CBC News - House apologizes to survivors of native residential schools (1 May 2007) Members of all parties stood united to pass a motion calling on the House of Commons to apologize to survivors of native residential schools. The motion passed 257-0.
From a Globe and Mail report on this: The motion makes reference to the trauma suffered as a result of policies intended to assimilate First Nations, Inuit, and Matis children. The loss of aboriginal culture is cited, as well as abuse. A new Truth and Reconciliation Commission will tour the country and issue a definitive report on the history of residential schools.
Canadian Press - Emerson says Canada making free trade in the Americas a key priority (2 May 2007) Canada already has trade deals with Chile, Costa Rica, and Peru. Free trade talks are also in the works with the Central American countries of El Salvador, Guatemala, Honduras, and Nicaragua. Canada now wants to launch negotiations this year with the Dominican Republic, Columbia, Peru, and the Caribbean Community trading bloc. Meanwhile, Ottawa expects to double trade and investment with Brazil by 2012. 'Over the coming year, you'll see a new commitment on Canada's part to reach out to our partners in the Americas,' Trade Minister David Emerson said. 'We have a chance to prove that collaboration and co-operation is the best path to prosperity...'
From a Bloomberg News report on this: Emerson last month said he hoped to complete a free trade accord with South Korea this year and begin talks with India.
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
For further information on creating invincibility for your nation, please visit: www.globalgoodnews.com/invincibility.html
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