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Gold/Mining/Energy : Oil Sands and Related Stocks

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To: LoneClone who wrote (13303)	10/31/2006 8:44:47 PM
From: Kayaker	Read Replies (2) of 25575

Income trust and stock indexes expected to plunge Sean Silcoff, National Post Published: Tuesday, October 31, 2006 Income trusts and Canadian stock indices are expected to be walloped today after federal finance minister Jim Flaherty last night said he would introduce a tax to stem the number of companies converting into the tax-dodging structure. "The market will open down significantly," said Leslie Lundquist, a Calgary-based fund manager who oversees the $1.1-billion Bissett Income Fund. "It’s fair to say this will not be perceived as good news by the trust market." Canada’s two leading telephone companies, Telus Corp. and BCE Inc., are expected to be hit particularly hard, as their stock values have risen sharply since they announced plans to convert to income trusts — moves that would save the two a combined $1.5-billion in taxes in 2008.... canada.com

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