(Reuters) -Canada’s main stock index rose to another record high on Wednesday, as technology and metal mining shares notched gains ahead of employment data this week that could offer clues on the prospect of a Bank of Canada interest rate cut.
The S&P/TSX composite index ended up 135.74 points, or 0.5%, at 28,751.36, surpassing Tuesday’s record closing high.
Both Canada and the U.S. are due to release employment reports for August on Friday. Economists forecast that Canada’s economy added 10,000 jobs and the unemployment rate edged up to 7% from 6.9%.
“It is probably the biggest jobs number we’ve seen in recent times coming out of both sides of the border,” said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. “I think a bad number in Canada solidifies a cut here.”
Investors see a roughly 60% chance the BoC lowers interest…
