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Foreign investors snapped up most Canadian stocks on record in first 4 months of year

Foreign investors bought Canadian securities for the fourth straight month in April, snapping up $12.94 billion to set a new record for the opening four months of a year.

OTTAWA – Foreign investors bought Canadian securities for that fourth straight month in April, snapping up $12.94 billion to create a new record for that opening 4 months of a year, Statistics Canada said on Tuesday.

Non-residents bought $5.04 billion in Canadian bonds, led by investment in federal government bonds, in addition to $4.24 billion in money market paper and $3.66 billion in stocks.

Canada remains an attractive destination for foreign investors seeking stable returns. The Canadian dollar appreciated against its U.S. counterpart by 3.9 U.S. cents in April, the highest increase in 42 months.

Total foreign acquisitions of Canadian securities within the first 4 months of the year hit a record $50.09 billion, well above the $18.48 billion purchased over the same period in 2014. The previous January-April high was the $33.33 billion seen in 2009.

Canadians increased their holdings of foreign securities by $6.56 billion, led by purchase of non-U.S. foreign instruments.

? Thomson Reuters 2015