Canada’s main stock index rose to a record high on Tuesday, led by gains in metal mining shares, as investors parsed the country’s mixed inflation data while awaiting trade developments.
The Toronto Stock Exchange’s S&P/TSX composite index TSX was up 0.48% at 26,095.67 points. The index had closed on record highs in the previous two sessions.
Data released on Tuesday showed that Canada’s annual inflation rate eased to 1.7% in April as energy prices dropped sharply after the removal of a federal consumer carbon tax, but core inflation edged up.
Two of the three core inflation measures, which are closely watched by the Bank of Canada, hit 13-month highs.
Later on Tuesday, finance leaders from the Group of Seven industrialized democracies will meet in Canada. They will strive for unity on non-tariff issues, but may have trouble reaching consensus with a Trump administration intent on pushing allies to serve U.S. interests.
“All eyes…
