By Fergal Smith
(Reuters) -Canada’s main stock index ended lower on Monday, pressured by losses for industrial shares, but the move was limited as recent strength in corporate earnings and the prospect of interest rate cuts helped underpin investor sentiment.
The Toronto Stock Exchange’s S&P/TSX composite index ended down 41.8 points, or 0.2%, at 21,942.28. The index was consolidating some recent gains for a second day after posting on Thursday a record closing high.
“I’ve not seen sentiment turn so positive in a long period of time,” said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.
“You’ve got a situation where interest rates look quite likely to come down in the second half of the year. Inflation pressures are abating, corporate earnings are still holding up quite strongly … it’s a really good environment for equities.”
The Federal Reserve last week eased investor jitters by keeping borrowing costs…
