TORONTO — Broad-based gains led Canada’s main stock index to close higher in the shortened Christmas Eve trading session, while U.S. stock markets also rose.
The S&P/TSX composite index ended up 97.84 points at 24,846.82, as most sectors rose other than telecoms and health care.
In New York, the Dow Jones industrial average was up 390.08 points at 43,297.03. The S&P 500 index was up 65.97 points at 6,040.04, while the Nasdaq composite was up 266.24 points at 20,031.13.
The gains added to increases in recent days to help offset the drop in markets last week after the U.S. Federal Reserve released its latest outlook.
The climb however was more likely related to year-end balancing than any change in sentiment, said Dustin Reid, chief fixed income strategist at Mackenzie Investments.
“I think it’s mostly just year-end flows that are driving it. I don’t think there’s anything that’s particularly…
