TSX ends up 0.1%, at 26,283.45
Posts new record closing high
BMO gains 1.5% and National Bank adds 3.8%
Definity Financial jumps 11.3%.
(Updates at market close)
May 28 (Reuters) – Canada’s main stock index edged up on Wednesday to a record closing high as investors cheered quarterly earnings from some of the nation’s biggest banks and assessed prospects of consolidation in the insurance sector.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 14.45 points, or 0.1%, at 26,283.45, eclipsing Tuesday’s record closing high.
Wall Street shares ended lower as investors digested minutes from the last Federal Reserve meeting and awaited results from AI bellwether Nvidia.
“The big story today is the banks,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. “Bank earnings were quite impressive given the risks that are facing the Canadian economy right now.”
Canada sends 75% of its exports to the…
