By Adriano Marchese
Toronto’s indexes were mildly higher Friday at midday. Investors are looking forward to Wednesday’s Bank of Canada interest rate decision where a 50 basis-point cut is expected, especially after Canadian inflation cooled rapidly last month to 1.6%, below the central bank’s target.
The biggest gainers of the session were commodity stocks, which offset losses primarily in energy, health tech and tech. Other gainers in the session were in the manufacturing and consumer discretionary sectors.
Canada’s S&P/TSX Composite Index rose 0.4% mid-session to 24788.66 and the blue-chip S&P/TSX 60 advanced by 0.4% to 1484.38.
Canadian gold producers were the biggest gainers of the session thanks largely to the precious metal hitting new record highs, currently trading at $2,691 an ounce. Gold has been a safe-haven for investors who have been viewing geopolitical events with concern, such as the war in the…
