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Bank of America Corp. (NYSE:BAC) stock trading high

Boston, MA 07/09/2013 (wallstreetpr) – In a recent survey conducted by Bank of Canada, it is observed that the companies of Canada could expect higher growth in their sales, as well as higher levels of employment and investment in the next 12 months. Such increases in sales expectations are primarily caused by the increasing demand from the American markets. It is reported that the companies still remain wary of the sluggish growth in the economy of the country.

The survey was conducted by the bank’s senior managers during the period from May 21 to June 13 and it was observed that there was a modestly positive outlook for the future sales of the companies in the region. Although many firms have noted that the increasing demand for products in the US markets will boost up companies’ sales, they have also noted that the US growth will remain sluggish for the next 12 months.

The survey further demonstrated that the balance of opinion on investment, namely the difference between the percentage of the respondents expecting higher levels of investment and the percentage expecting lower levels of investment, was positive but declined to 9 from 12 in the first quarter and 20 in the fourth.

Shares of Bank of America Corp. (NYSE:BAC) have been gradually surging during the last trading session on Monday moving in the range of $13.08 to $13.31 per share during the day. The bank holding company is presenting a stable surge in its share price for the recent few trading sessions and recorded further an average trading volume of 124.14 million shares per day. As for the equity ownership structure, Bank of America Corp. (NYSE:BAC) currently holds around 10.78 billion shares of the company outstanding in the market, with 59 percent of its equity capital under institutional ownership.

Published by Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

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