The Canadian stock market rose for the second consecutive session, as investors showed confidence in a gradual economic recovery following the Federal Reserve’s indication of potential interest rate cuts next year. This optimism, the release of strong U.S. retail sales numbers, and strengthening commodity prices drove the S&P/TSX Composite Index up by 149 points, or 0.7%, on Thursday to 20,779 — its highest closing level in more than 18 months.
While all key market sectors, except consumer noncyclicals, ended the session in the green territory, the TSX rally was mainly driven by big gains in real estate, metal mining, and financial stocks.
Top TSX Composite movers and active stocks
Transcontinental (TSX:TCL.A) jumped 10.6% to $12.88 per share, extending its week-to-date gains to more than 13%. The recent rally in its stock started earlier this week after the Montreal-based printing and packaging firm announced its latest…
