Five Stocks for Canada Day
July 1 is Canada Day, a national holiday in Canada, celebrating the anniversary of the Constitution Act of 1867. Then, three colonies of the British Empire were united into one country--Canada.
Canadian workers get a day off (although this year Canada Day falls on a Sunday, so employees may get Monday off instead). There will be fireworks over the weekend, including a show over the Detroit River which separates the Michigan city from Canada.
Canada's July 1 is similar in nature to the U.S.'s July 4, albeit with more Bryan Adams, Celine Dion and poutine. Here are five stocks to celebrate this special day. Should you buy them? Not necessarily, but you'll get to feel Canadian for a minute or two.
Royal Bank of Canada (NYSE: RY)
Recently, Canadian banks have performing poorly. Shares of Canada's largest banks - the Royal Bank of Canada, the Bank of Nova Scotia (NYSE: BNS), and Toronto-Dominion (NYSE: TD) - have traded lower in the wake of the European debt crisis summit and a decline in raw materials. Perhaps the good feelings around this weekend's holiday will help offset that.
On Friday morning, Royal Bank of Canaday traded at about $50.90, up roughly 2.8 percent. The Bank of Nova Scotia traded at about $51.50, up roughly 2 percent. Toronto-Dominion traded at about $78.40, up roughly 2.4 percent.
H.J. Heinz (NYSE: HNZ)
To be fair, it is a stereotype, and a nonsensical one, that Canadians put mayonnaise on everything. They might use it a little more than the average American, but they don't put it on everything. That said, this week should see copious amounts used as the country goes barbeque crazy. Mayo-makers such as Heinz might do well.
On Friday morning, H.J. Heinz traded at about $54.20, up roughly 1.7 percent.
Hormel Foods (NYSE: HRL)
Canadian bacon - is it bacon or is it ham? Does it matter? Probably not. Hormel sells plenty of the stuff, and what is better to have with eggs on Sunday morning?
On Friday morning, Hormel Foods traded at about $30.20, up roughly 1.7 percent.
Molson Coors Brewing (NYSE: TAP)
It stands to reason that, while watching fireworks and eating burgers on a warm evening, beer will be guzzled and Molson is a Canadian favorite. As we approach the weekend, one would imagine that Canadian coolers are already filled.
On Friday morning, Molson Coors Brewing traded at about $41, up roughly 3 percent.
Time Warner (NYSE: TWX)
Comedy Central, owned by Time Warner, runs South Park which, in turn, spawned two of America's favorite Canadians--Terrance & Phillip. How many people will be singing "Blame Canada" on Sunday? That remains to be seen.
On Friday morning, Time Warner traded at about $38.40, up roughly 1.3 percent.
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