By Fergal Smith
(Reuters) -Canada’s main stock index rose on Wednesday to a new all-time high, benefiting from investors adding more shares in mining and financial companies to their portfolios near the end of the quarter.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 194.56 points, or 0.9%, at 22,107.08, eclipsing the record closing high it posted last Thursday at 22,087.26.
The index is on track to advance 5.5% in the first quarter ending on March 31, adding to a gain of 7.25% in the previous quarter, as investors grow more optimistic of a soft landing for the economy that could particularly help cyclical stocks.
“The TSX is benefiting from continued renewed interest in the commodity sectors,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.
“The sector rotation is going Canada’s way. … We’ve seen a general strengthening in banking stocks which is also good for Canada.”
Together, the financial,…
