As Europe gears up, some Canadian stocks gain traction

CI sub-advisor Daniel Bubis favours economically sensitive sectors.

Sonita Horvitch 21 August, 2013 | 6:00PM

 Daniel Bubis, president and CEO at Winnipeg-based Tetrem Capital Management Ltd., says that a number of global companies with significant operations in Europe have already seen a lift in their stocks in anticipation of better economic times for that region.

It was certainly advantageous to invest, for example, in select Canadian economically sensitive companies with European exposure a year ago, he says. "At that time, these stocks were particularly cheap," says Bubis, who is a value manager.

Some of these stocks, including those in the Canadian consumer-discretionary sector, have had a good run since the beginning of the year, he says. "The valuations are no longer as compelling as they were a year ago, but the stocks still have further to run, given the companies' stronger fundamentals."

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Sonita Horvitch

Sonita Horvitch