Canada’s main stock index hit a record high on Thursday, lifted by consumer discretionary and mining stocks, as China’s assurance of more stimulus lifted investor sentiment.
At 11:11 a.m. ET, The Toronto Stock Exchange’s S&P/TSX composite index was up 104.31 points, or 0.44%, at 24,010.19, and was set for its third record high session for this week.
China on Thursday vowed “necessary fiscal spending” to meet its growth target and announced plans to issue special sovereign bonds worth about 2 trillion yuan ($284.43 billion) this year, following the central bank’s policy easing earlier in the week.
The materials sector rose 1.4%, tracking record-high gold prices, near 12-year high silver prices and near 16-week high copper prices, boosted by hopes of stronger metals demand from China.
“China is obviously a big industrial consumer of things like copper and metals,” and the stimulus is positive “for global economic growth,…
