Despite a shaky start to the session due to escalating Russia-Ukraine tensions and slightly hotter-than-expected domestic consumer inflation numbers, Canadian stocks rose for a second consecutive day on Tuesday with the help of strengthening commodity prices. The S&P/TSX Composite Index ended the volatile session 34 points higher at 25,011, settling above the important 25,000 level for the second time.
Even as a selloff in many key sectors, including healthcare and technology, pressured the TSX benchmark, solid gains in metal mining and utility stocks pushed the market index higher.
According to Statistics Canada’s latest report, the Consumer Price Index climbed by 2% in October 2024 against an increase of 1.6% in September on a year-over-year basis, mainly due to a smaller decline in gasoline prices. Last month, food prices from stores grew 2.7% from a year ago, exceeding headline inflation for the third consecutive month, with…
