Canada’s main stock market, the Toronto Stock Exchange, gained near 190 points or 1% on Friday in closing out near 21,550, having earlier in the session even breached the 21,600 level for the first time since the Spring of two years ago.
Today, the resources heavy index was lifted by a strong performance in gold and oil prices, while it also appears that some stock pickers who may have been on the sidelines, wary about Canada falling in to a recession, have now freed themselves of those fears and have resumed buying. There has been a fierce debate over recent months about whether or not Canada had already dipped into recession, or would do so in the near term.
All sectors were higher, led by Battery Metals and Health Care stocks. Energy was up near 2% and Base Metals by 1%.
Of commodities today, gold prices surged to a record as weak US economic data raised hopes that rate cuts are on the way soon. Gold for April delivery rose…
