Sept 12 (Reuters) – Canada’s main stock index rose on Thursday, helped by gains in mining stocks, after the latest U.S. economic data further consolidated the possibility of a quarter-basis-point rate cut next week.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE), was up 87.91 points, or 0.38%, at 23,299.08 and was hovering near a record high.
Canada’s materials (.GSPTTMT), sector led the gains with a 2.8% jump, helped by record-high gold prices along with a surge in copper.
Leading the index were B2Gold Corp <BTO.TO > and OceanaGold Corp (OGC.TO), that gained 8.7% and 6.6%, respectively, whereas Equinox Gold Corp (EQX.TO), rose 5.5%.
Domestic markets also reacted to economic data from the United States, including the U.S. producer prices that rose slightly more than expected in August, but the trend remained consistent with subsiding inflation that confirmed the possibility of a quarter-point cut by the…
