September 16, 2015 / 12:45 PM / 2 years ago

Foreign investment in Canadian securities drops in July

OTTAWA (Reuters) - Foreign investment in Canadian securities had its biggest decline in seven months in July as investors sold their equity holdings, data from Statistics Canada showed on Wednesday.

Non-residents sold C$10.12 billion ($7.64 billion) in Canadian assets. Equities positions declined by C$9.72 billion as cross-border merger and acquisitions activities caused foreign portfolio investors to tender their Canadian shares.

A C$3.1 billion increase in foreign investment of Canadian shares on the secondary market moderated the overall decline. Investors also reduced their holdings of Canadian debt securities by C$406 million, the first divestment this year.

Canadians’ holdings in foreign securities edged down by C$236 million in July as funds moved from equities to debt securities.

Canadians sold C$4.24 billion of both U.S. and non-U.S. foreign equities, while purchases of foreign debt rose by C$4.0 billion as investors picked up U.S. Treasury bonds.

Reporting by Leah Schnurr; Editing by Lisa Von Ahn

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below