Canada: The merger of American and Canadian beer companies Coors and Molson bolstered Canadian investment in foreign securities to the highest monthly level since November 2002, Statistics Canada said on April 18. Canadian shareholders swapped their shares for the newly formed beer firm, Molson Coors Brewing Co., based in the United States, causing the bulk of the $5.27 billion in net purchases of foreign securities by Canadians, according to Toronto Star Newspapers.

It was the highest level since November 2002. In January, Canadians had sold a net $2.41 billion in foreign securities, all of it stocks. Foreigners slowed their pace of investing in Canadian securities in February to $1.80 billion from $2.41 billion in January and $3.74 billion in December, but Statistics Canada noted steady purchases of stocks.

Foreign investors, mainly Americans, bought $2.2 billion in Canadian stocks. "Non-resident investors have acquired Canadian equities every month since July 2004, with purchases totalling $15.3 billion over the eight-month period," the agency Canada said. Transactions in Canadian bonds were relatively flat in February. Foreign investors sold $89 million worth of bonds after buying $600 million the month before.

20 April, 2005