Canada Immigration Visas

Stocks looked to be in decline all over the world on Tuesday 20 May, with one exception: Canada. This was no ordinary one off bucking of the trend, either; in fact, the Toronto Stock Exchange (TSX)’s main measure set yet another record, fuelled by energy stocks as oil prices hit heights never seen before.

The S&P/TSX composite index surpassed 15,000 for the first time on Tuesday, achieving a record close of 15,047.34, up 63.14 points or 0.4 per cent for the day. It also reached a new intra-day high of 15,090.74, and resulted, overall, in a close which put it 24 per cent higher than its close of 12,132.13, a 14-month low recorded on 21 January.

The new heights reached on the TSX have been attributed largely to the booming Canadian energy industry, which continues to be a primary reason for mass immigration to Canada.

As these export based sectors such as energy are attractive to investors, the Canadian dollar rose 81 basis points to 1.00083 US on Tuesday.

Canadian migration expert Eric Katz highlighted the significance of Canada as an energy supplying nation and explained how the booming industry has created a need for mass immigration in order to sustain itself. He said:

“The main reason for the record stock market high in Canada is that energy prices are going through the roof. Most people do not realize that Canada is the main energy supplier to the United States after Saudi Arabia and before all other oil and gas producing countries. Furthermore, Canada has the second largest oil reserves in the world.

“What this means is that we are, as a nation, a net exporter of energy and are virtually energy self sufficient. In immigration terms this has set an insatiable demand for foreign skilled workers in the trades, management and related fields. More people moving to Alberta’s oil rich cities means more housing having to be built and therefore a greater need for more plumbers, carpenters and electricians as well as bankers, IT professionals and other services professionals, such as those in healthcare, that go along with any major economic boom.”