Canadian equities extended their gains for a third straight session on Thursday as cooler-than-expected U.S. wholesale inflation figures and signs of easing global trade tensions boosted investor sentiment. The S&P/TSX Composite Index rose by 92 points, or 0.3%, to settle at 26,616 — marking yet another record high, as confidence builds around a soft landing and potential Fed rate cuts later this year.
Despite weakness in some technology stocks, strong gains in most other key market sectors such as healthcare, consumer discretionary, and utilities kept the TSX in positive territory.
Top TSX Composite movers and active stocks
TransAlta (TSX:TA) surged by 8.5% to $15.51 per share, making it the top-performing TSX stock for the day. This rally in TA stock came after Jefferies upgraded the power producer’s rating to “buy” and significantly raised its price target from $12 to $20 per share. Despite the recent rally, TransAlta is…
