Dec 27 (Reuters) – Canada’s main stock index fell on Friday, led by losses in technology and mining shares, although the index was on track to record gains for a second straight year after hitting a string of new highs.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE), was down 90.04 points, or 0.36%, at 24,756.78, but was on track to post its first weekly gain in three.
With just three trading sessions remaining in the year, the index has advanced 18.6% so far to record its best year since 2021, benefiting from policy easing cycles in Canada and the United States, as well as a rally fueled by Donald Trump’s victory in the November U.S. presidential election.
However, Canadian equities have faced a rough few weeks in December, partly due to the U.S. Federal Reserve’s forecast of fewer rate cuts next year due to stubbornly high inflation.
“I think what’s happened is that post (U.S.) election rally has kind of run out of…
