(Updates at market close)
March 17 (Reuters) – Canada’s main stock index rallied for a second straight day on Monday as some investors took the view that the recent selloff in the market was a buying opportunity, with energy and metal mining shares leading broad-based gains.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 231.71 points, or 0.9%, at 24,785.11, extending its rebound from a four-and-a-half-month low on Thursday.
“We got quite oversold,” said Stan Wong, portfolio manager at Scotia Wealth Management. “Not too surprised that we have a little bit of a reprieve in the markets.”
Wall Street also rallied as investors assessed the latest economic data to gauge the impact of the Trump administration’s policies.
U.S. tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast.
If additional “tariff talk comes out of the U.S. that might slow us down…
