May 26, 2014 Newsletter

Dear Friends,

Tangents:

Memorial Day:  Also known as Decoration Day, observed in most states of the USA as a holiday to honour those killed in war and originally held to commemorate those who fell in the Civil War, 1861-5.  In Virginia, it is observed as Confederate Memorial Day.  In Louisiana and Tennessee Confederate Memorial Day is June 3, the birthday of Jefferson Davis, President of the Confederate States; in Alabama, Florida, Georgia and Mississippi it is April 26 and tin the Carolinas it is 10 May.  –from Brewer’s Dictionary of Phrase & Fable.

On this day in…

1805 – Napoleon was crowned king of Italy.

Also on this day in 1805, Lewis and Clark see the Rocky Mountains for the first time.

1887 – Canadian Pacific Railway 4,700 km main line opens for public traffic, 18 months after the last spike at Craigellachie, BC. Trains have been running across Canada for a year, but passengers can now ride directly to Vancouver.

1994 – Pop star Michael Jackson and Lisa Marie Presley were married in the Dominican Republic.

1998 – The Supreme Court ruled that Ellis Island – historic gateway for millions of immigrants – is mainly in New Jersey, not New York.

2004 – Terry Nichols was found guilty of 161 state murder charges for helping carry out the Oklahoma City bombing.

2009 – President Barack Obama nominated federal appeals judge Sonia Sotomayor to be the first Hispanic justice on the Supreme Court.

Weakness of attitude becomes weakness of character. –Albert Einstein.

Photos of the day

Blackbird nestlings (Turdus merula) beg for food as they sit in a nest in Lofer, Austrian province of Salzburg, Saturday.The breeding season lasts from early March to late July. Kerstin Joensson/AP

Children dance to a colorful pattern projected onto the wall of Museum of Contemporary Art on the second night of the Vivid Sydney light and music festival, Saturday in Australia. For 18 days the Vivid Sydney festival will combine outdoor lighting sculptures and installations and is one of the world’s largest creative industry forums. Jason Reed/Reuters

Market Closes for May 26^th , 2014

International Markets

Bonds

Currencies

Commodities

Market Commentary:

Canada
By Gerrit De Vynck

May 26 (Bloomberg) — Canadian stocks rose for a fifth day, the longest advance since February, as copper hit an 11-week high and Ukraine elected a new president.

Lundin Mining Corp. and Sherritt International Corp. advanced at least 1.8 percent. Copper rose to the highest in almost three months on speculation China’s growth is set to accelerate after the country’s premier said the government will adjust policy to help the real economy.

The Standard & Poor’s/TSX Composite Index climbed 7.59 points, or 0.5 percent, to 14,715.69 at 4 p.m. in Toronto. The gauge has risen 1.4 percent in the last five days.

Base metals growth is the “wild card for the Canadian market,” said Ian Nakamoto, director of research with MacDougall, MacDougall & MacTier Inc. in Toronto, which manages C$4.7 billion ($4.3 billion). “If we get some more positive news out of China or global growth I think the Canadian market will continue to do well.”

Lundin rose 2.1 percent to C$5.98 and Sherritt rose 1.8 percent to C$4.45. Thompson Creek Metals Co., which mines copper and molybdenum, rose 3.2 percent to C$3.23.

Inter Pipeline Ltd. and Enbridge Inc. dropped at least 0.8 percent, the most among energy companies as crude oil fell amid speculation that the new Ukrainian president may help ease tensions with Russia.

Petro Poroshenko won the Ukrainian presidential election in the first round of voting, eliminating the need for a longer campaign. He said he would work with Russia to bring a quick end to the crisis in the country’s east.

Manulife Financial Corp. rose 1.3 percent to C$20.30 after Canaccord Genuity Corp. began analyst coverage of the insurer with a buy rating and a price target of C$22.

Tweed Marijuana Inc. gained 8.5 percent to C$3.05, its biggest jump in more than a month.

Canadian Tire Corp. rose 1.7 percent to C$105.20 after announcing a “multi-million” dollar deal with sports broadcaster TSN to make branded content for the retailer. TSN is owned by BCE Inc.

US

Markets closed for Memorial Day holiday.

Have a wonderful evening everyone.

Be magnificent!

There is no you or me;

all variety is merged into absolute unity,

the one infinite existence – God.

Swami Vivekananda ,1863-1902

As ever,

Carolann

Life is a long lesson in humility.

-James M. Barrie, 1860-1937

Carolann Steinhoff, B.Sc., CFP®, CIM, FCSI

Senior Vice-President &

Senior Investment Advisor

Queensbury Securities Inc.,

St. Andrew’s Square,

Suite 340A, 730 View St.,

Victoria, B.C. V8W 3Y7