BUSINESS

Non-residents reduced holdings of Canadian securities by $1.9B in December

02/19/2013 08:54 EST | Updated 04/21/2013 05:12 EDT
OTTAWA - Statistics Canada says non-residents reduced their holdings of Canadian securities by $1.9 billion in December, led by large retirements of bonds and equities.

It says Canadian investors bought $5.5 billion in foreign securities, marking a fourth straight month of investment.

Non-resident investors acquired $4.8 billion of Canadian debt securities in December, a sixth straight month of investment.

However, they cut their holdings of Canadian shares by $6.7 billion in December, the largest divestment since November 2007.

This was related to cross-border merger and acquisition activity.

Canadian stock prices ended December at their highest level since February 2012.