TSX ends up 0.3% at 25,971.93
Eclipses Thursday’s record high
MEG Energy biggest gainer after takeover bid
Investors remain cautious
May 16 – Canada’s main stock index hit a record high on Friday, closing firmer for a sixth consecutive week, as worries about a global trade war eased after the U.S.-China tariff truce over the weekend.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 74.45 points, or 0.29%, at 25,971.93. The index touched 25,992.89 on Friday, topping Thursday’s record high.
For the week, the index gained 2.5%.
The index’s gains tracked those of Wall Street’s main indexes, which rose for the fifth straight day.
This week, the 90-day pause in the US-China tariff dispute, along with the recent US-UK trade agreement, sparked optimism for future US trade deals and helped ease recession concerns.
“There’s a lot of optimism right now. The markets are being driven by momentum,” said Michael Dehal,…
