Jan 7 (Reuters) – Canada’s main stock index rose on Tuesday, lifted by mining and energy shares, while investors assessed domestic data and braced for political changes after Prime Minister Justin Trudeau announced his plan to resign.
The S&P/TSX composite index (.GSPTSE), rose 0.4%, or 99.04 points, to 25098.83.
Canadian economic activity expanded at its fastest pace in five months in December as employment and inventories climbed, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.
Trade figures also released on the day showed Canada recorded a ninth consecutive monthly trade deficit in November, albeit smaller than expected.
Tuesday’s stock index rise comes a day after Trudeau said he would step down in the coming months after nine years in power.
“The government is trying to sort itself out. So the markets are going to be extremely sensitive to any sort of news coming when valuations are high,” said Michael Sprung, president…
