TORONTO — Canada’s main stock index rose 1.3 per cent Thursday in a broad-based rally with strong gains in technology and base metal stocks, while U.S. stocks saw a more muted rise.
The S&P/TSX composite index closed up 334.95 points at 25,808.25.
In New York, the Dow Jones industrial average was up 168.61 points at 44,882.13. The S&P 500 index was up 31.86 points at 6,071.17, while the Nasdaq composite was up 49.43 points at 19,681.75.
“The rally here is led by base material stocks and technology stocks in Canada,” said Ilana Schonwetter, investment advisor and portfolio manager at BlueShore Financial.
The gains came a day after the Bank of Canada cut its key interest rate to three per cent.
Inflation is within the central bank’s range and spending is picking up, but the potential for a trade war with the U.S. is clouding the economic outlook, said Schonwetter.
“Everybody is in a bit of a holding pattern right now to see…
