Saturday, June 14, 2008

Tax Freedom Day, TSX Index Changes, and Floods

Happy Tax Freedom Day Canada!

The day Canadians have paid off the total tax bill imposed on them by government and can finally start working for themselves, arrives today, four days earlier than in 2007, according to The Fraser Institute’s annual Tax Freedom Day calculations.

Canadians can calculate their personal Tax Freedom Day using The Fraser Institute’s Personal Tax Freedom Day Calculator.

Toronto Stock Exchange Index Changes

According to Reuters, six stocks will be removed from the Toronto Stock Exchange's main index, while three will be added as part of a routine quarterly review.

The changes to the S&P/TSX composite index will take effect at the start of trading on Monday, June 23, S&P said.

Removed from the index will be:

  • Crystallex International KRY.TO
  • Breakwater Resources BWR.TO
  • Aastra Technologies Ltd AAH.TO
  • Tesco Corp TEO.TO
  • Ballard Power Systems BLD.TO
  • Allen-Vanguard Corp VRS.TO.

The additions will be:
  • Birchcliffe Energy Ltd BIR.TO
  • Crew Energy Inc CR.TO
  • Iteration Energy ITX.TO.

Record Corn prices with Floods Hitting Mid-West Cities

Heavy rainfall and floods in the U.S. mid-west have in my opinion, pretty much ruined any hopes of a decent corn and soybean crop from these areas this year. It will be interesting how this weather event will effect agricultural stocks in the weeks to come as the fertilizer plays don't seem to be affected by it just yet while corn futures have gapped up a few times over the last few weeks. Ethanol stocks have already been downgraded as a result.

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