Canadian stocks inched up for the third consecutive session on Friday as weaker-than-expected GDP (gross domestic product) growth data raised expectations for further interest rate cuts by the Bank of Canada in the coming months. These factors, coupled with an intraday recovery in gold and silver prices, drove the S&P/TSX Composite Index up by 104 points, or 0.4%, to 25,648.
While all key sectors ended the session in the green, the TSX rally was mainly driven by handsome gains in technology, industrials, and mining stocks.
According to Statistics Canada, Canada’s real GDP grew only 0.3% in the third quarter of 2024. This figure reflected a slowdown from 0.5% growth in the first two quarters, as higher household and government spending was offset by slower inventory accumulation, declining business investment, and lower exports.
Top TSX Composite movers and active stocks
Cogeco Communications, Denison Mines, South Bow, and Energy…
