19.09.202513:40:36UTC+00TSX Breaks Record Levels

The S&P/TSX Composite Index experienced an increase of approximately 0.6%, surpassing the 29,600 mark for the first time on Friday. This rise was fueled by gains in rate-sensitive sectors such as technology and financials, buoyed by recent interest rate cuts from the Bank of Canada and the Federal Reserve, alongside expectations of further easing in the coming year. Among the large-cap stocks leading the charge were RBC and Shopify, each climbing by about 1%. The mining sector also saw significant gains, with notable performers including Agnico Eagle, Wheaton Precious Metals, Barrick, and Franco-Nevada, all registering increases ranging from approximately 1.7% to 3.5%. On the economic landscape, preliminary estimates indicate a notable 1% month-over-month rise in Canadian retail sales for August, marking the second-largest uptick of the year. This increase effectively counterbalances the 0.8% decline noted in July and aligns with market expectations. Over the week, the Toronto Stock Exchange was poised to register an overall gain of more than 1%.