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GMP Capital Inc.'s Harris Fricker, right, during an interview with The Globe and Mail in 2010.
GMP Capital Inc.'s Harris Fricker, right, during an interview with The Globe and Mail in 2010.
(Darren Calabrese For The Globe and Mail)

GMP struggles to stay profitable in down market

GMP Capital Inc.’s struggles to make money in the securities business continue, showing just how strained the market is for brokers that are focused on the Canadian market.

The big problem was a 49-per-cent drop in investment banking activity at the firm. Activity in the key sectors of mining and oil and gas was down 61 per cent and 27 per cent, the Toronto-based company said.