By Fergal Smith
TORONTO (Reuters) – Canada’s main stock index is set to extend its record-setting rally in the coming months and through 2025 as lower borrowing costs offset the potential drag on corporate earnings from slower economic activity, a Reuters poll found.
The median prediction of 20 portfolio managers and strategists in the Aug. 8-20 poll was for the S&P/TSX Composite index to advance 2.7% to 23,750 by end 2024, eclipsing the 22,500 expected in a May poll. On Monday, the index closed at 23,116.39, a record high.
The index is then expected to rise to 24,350 by end 2025, a gain of 5.3%, versus May’s forecast of 24,300.
“We do not believe the bull market is over, and we would use any pullbacks, such as the one experienced in August, as opportunities to rebalance, diversify, and deploy fresh capital,” said Angelo Kourkafas, a senior investment strategist at Edward Jones.
The commodity-linked TSX has advanced 10.3% since the start…
