Victoria Day Impact on the Toronto Stock Exchange
Canadian markets are closed today as a result of Victoria Day. Here are a few quick facts to mull over to make your trading decisions tomorrow:
- The TSE Composite Index has shown gains 6 out of the last 10 years on the day following this stat holiday. Gains on this day average 0.44% and range from a loss of 3.30% in 2000 to a gain of 3.46 in 2009.
- Over the week following, things become more improved with average returns of 0.70%, advancing in 58% of sessions and gains in 6 out of 10 periods. Maximum returns came 3 days following the event, on average.
- The 6 out of 10 positive periods carries over to the 30 days period as well, with gains on average of 1.20%.
Memorial Day Investing in the Canadian Market
- Next week American markets will be closed as a result of Memorial Day, while Canadian markets are open. Gains are favorable for Canadian investors at an average gain on the day of 0.39% with positive returns in 8 of the last 10 years. Returns ranged from –0.02% in 2001 to 0.84% in 2004.
- Over the week following Memorial Day holiday investing, gains averaged 1.46% with 60% of sessions advancing, and positive in 7 out of 10 periods.
- The 30-Day returns are undesired at an average loss of 0.31%, positive in only 4 of the last 10 periods.
Happy Victoria Day!
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