Largely upbeat corporate earnings reports and speculation about the outcome of the U.S. presidential election drove Canadian stocks higher on Tuesday, with investors keeping a close eye on sectors sensitive to economic policy shifts. The S&P/TSX Composite Index advanced by 132 points, or 0.5%, to settle at 24,388.
While nearly all key market sectors ended the session in the green, the TSX rally was mainly driven by solid gains in healthcare, utility, and industrial stocks.
Top TSX Composite movers and active stocks
TransAlta (TSX:TA) inched up by nearly 7% to $15.30 per share, making it the top-performing TSX stock for the day. This rally in TA stock came after the Calgary-based power-generation firm released its September quarter earnings report.
TransAlta’s latest results revealed a decline in profitability, with its adjusted quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) falling 28.3% year…
