Welcome
Daily Tax Report ®

Energy Stocks Set to Bear Brunt of Canadian Tax-Loss Selling

Nov. 25, 2020, 12:45 PM

Energy, cannabis and travel stocks may come under pressure as Canadian investors sell to trigger tax losses before the end of December.

Oil and gas producers look particularly vulnerable to this year’s selling within Canada’s S&P/TSX Composite Index, as Covid-19 pushed oil to record lows earlier this year during strict lockdowns.

Vermilion Energy Inc. and Enerplus Corp. are among drillers that have fallen more than 60% this year. Twenty-one of the 23 stocks in the TSX energy index have declined at least 15%.

Toronto’s 222-member index has 41 companies that have fallen more than 20% this year, according to data...

To read the full article log in. To learn more about a subscription click here.