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Douglas Kee, chief investment officer, Leon Frazer & Associates FOCUS: Canadian Dividend Paying Stocks Market outlook: As of last Friday’s close both the S&P 500 Index and the S&P/TSX Composite were down in local currency terms and volatility remains high. Markets have been challenged by modest global economic growth, the threat of higher interest rates and a softening corporate earnings outlook. At the beginning of the year we had a fundamental Canadian market trading range forecast of 13,000 to 15,000, this range has been surpassed on the upside and the bottom has now been tested twice. Our outlook for the remainder of this year and 2016 is cautiously optimistic given moderate economic growth, a very modest upward bias to interest rates and single digit earnings growth. We remain committed to companies that provide a current yield and the potential for increased dividends in the future. Top Picks Enbridge (ENB.TO) Cenovus Energy (CVE.TO) Royal Bank (RY.TO) Click here for more information on Douglas Kee's top and past picks Follow us on Twitter: @marketcall |