World's Biggest Fund Sees Nothing to Like in Canada Stocks

The chief strategist for Canada at BlackRock Inc., the world’s largest money manager, doesn’t see a single attractive sector in the local stock market because oil prices will stay low. Shares will be cheap compared with U.S. equities only if crude climbs to the mid-to-high $50s or low $60s from about $49 now, but a supply glut makes that unlikely, Kurt Reiman said in an interview in Bloomberg’s Toronto office Tuesday. "The valuation discount is not sufficient," Reiman said.