Toronto composite index gains as mining stocks rise
1 min read
Although inflation fears remained on investors’ minds a day after the Bank of Canada lifted interest rates, Toronto stocks climbed on Thursday, driven by mining sectors, as a falling US dollar bolstered gold prices.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) was up 102.23 points, or 0.49 percent, at 20,815.95 at 9:45 a.m. ET (1345 GMT).
The TSX posted no new 52-week highs and two new lows, with a total volume of 33.33 million shares.
The Bank of Canada opened the door to a more aggressive pace of tightening on Wednesday, saying it was prepared to act “more forcefully” to tame inflation.
World shares were largely steady after recent weakness as bets Saudi Arabia may boost crude production cooled down oil prices.
This report’s information was first seen on Reuters; to read more, click this link.
