James Kofman

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James Kofman

  1. 1. November 8, 2011 James E. Kofman Vice Chairman Cormark Securities Inc.
  2. 2. Canadian Capital Markets Performance Relative Performance of Key Indices The Canadian market has shown continued strong performance Source: Bloomberg and Capital IQ
  3. 3. TSX Outperformance vs. Global Markets Total TSX Performance to MSCI World Index (US$) The Canadian market has outperformed the world indices in 7 of the last 10 years Source: Bloomberg
  4. 4. Market Volatility Market volatility has increased significantly amid credit concerns 9/11 Accounting scandals Uncertainty re: Q4 results Iraq war Significant initial increase in oil prices Economic concerns Credit concerns Source: Bloomberg VIX Index S&P Daily Declines of 1.5% or More
  5. 5. M&A Activity and Share Price Movement Source: Bloomberg (Criteria: deal size > $100 million, target company in Canada or US, transactions pending or completed)
  6. 6. Current Environment M&A volumes surged to record levels in 2007 but have since retreated given weaker credit supply Source: Bloomberg Canadian M&A Activity Global M&A Activity
  7. 7. Segmented Analysis Source: Bloomberg (based on deal value, and country and industry of target) Global M&A Activity (YTD) Canadian M&A Activity (YTD)
  8. 8. TSX New Issue Activity Source: FP Infomart Note: As at Sept. 30, 2011; Excludes structured products Source: TMX Group; as at Sept. 30, 2011 TSX & TSXV - Equity Financing Proceeds TSX & TSXV – YTD Equity Financing Proceeds by Sector

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