TSX Market News - ALA, CAR.UN, CU

The first week of October is over. The first three days were brutal. We went through some big sell-offs. The last two days markets stabilized and recovered a bit. I think banks sold off the most. This could be a good buying opportunity. My exposure to Canadian banks is still very low. So I might buy some banks of the dip. Here's the weekly roundup of the stocks I own.


AltaGas has reached an agreement to sell its interest in Central Penn Pipeline for $870 million. The sale is part of their debt reduction program through the sale of non-core assets. The company completed and exceeded its own target of selling $1.5-$2.0 billion of assets. This is positive news because this will strengthen their balance sheet. I think AltaGas shares will cross above $20 very soon.

CAPREIT finalized the sale of Netherlands property portfolio to ERES (ERE.UN.VN) for 170.5 million euro. The Netherlands portfolio comprised of 18 residential properties representing 942 units. CAPREIT will provide property and asset management services to ERES. It's unclear what the company will do with extra cash.

Canadian Utilities has completed the sale of its Canadian fossil fuel-based electricity generation portfolio. The company will continue their focus on building a global portfolio of premier utility and long-term contracted energy infrastructure assets.

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