Invest
CANADIAN IMPERIAL BANK OF COMMERCE $76 (Toronto symbol CM; SI Rating: Above average) is Canada’s fifth-largest bank with $280.4 billion in assets.
In August 2005, the bank set aside $2.8 billion (or $7.45 a share) to cover various lawsuit settlements related to its dealings with bankrupt U.S. energy trading firm Enron Corp. The charge wiped out about 20% of CIBC’s shareholders’ …read more »
BANK OF MONTREAL $63 (Toronto symbol BMO; SI Rating: Above average) is the fourthlargest Canadian bank, with assets of $297.5 billion. The bank earned $1.27 a share (total $657 million) in its fourth fiscal quarter ended October 31, 2005, up 19.8% from $1.06 ($551 million) a year earlier.
The latest results include $43 million in one-time gains from the sale of …read more »
BANK OF NOVA SCOTIA $47 (Toronto symbol BNS; SI Rating: Above average) is Canada’s third-largest bank, with assets of $314.0 billion.
In its fourth fiscal quarter ended October 31, 2005, earnings grew 15.9%, to $0.80 a share (total $811 million) from $0.69 ($705 million) a year earlier, due to gains in retail, wealth management and international operations. Excluding onetime items, the …read more »
Bank stocks have been among the market’s top performers in the past few years — as they have for the past few decades. Now some investors worry that rising interest rates will hurt their loan growth, and that the banks’ loan losses will rebound to the long-term average from their recent lows.
That may happen, and bank stocks may face a …read more »
The 2005 deadline for tax-loss selling on the Toronto Exchange is Friday, December 23. If you sell at a loss on or before that date, you can deduct your loss for tax purposes against 2005 capital gains. However, you can also carry your loss back for the past three years, or carry it forward indefinitely, to offset past or future …read more »
Flow-through funds are tax shelters that mainly invest in the flow-through shares issued by junior mining and oil companies. These companies spend the proceeds from the shares they sell on mineral exploration and development, an activity that qualifies for certain tax credits and tax deferrals. These tax benefits “flow through” to investors in the fund. To take advantage of these …read more »
