March 26 (Reuters) – Canada’s resources-heavy stock index inched higher on Tuesday, with precious metals miners and healthcare stocks in the lead, while Athabasca Oil was among the top losers after a brokerage downgraded the oil explorer.
At 10:22 a.m. ET (1422 GMT), the Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE), opens new tab was up 33.23 points, or 0.15%, at 21,975.51.
The TSX is set to end the first quarter of 2024 on an upbeat note, with energy and industrials among top gainers.
“The earnings have been strong in the first quarter and we haven’t seen any major company come out with significant warnings,” said Barry Schwartz, chief investment officer and portfolio manager at Baskin Financial Services.
“For Canadian markets, the next driver is really interest rate cuts.”
Traders are pricing in a 51.7% chance that the Bank of Canada could deliver its first interest rate cut of 25 basis points in June. 0#BOCWATCH
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