* TSX closes up 0.9%
* US PPI softer than expected
* Technology and financials lead sectoral gains
*
Aug 13 (Reuters) – Canada’s main stock index on Tuesday
ended the trading day at its highest in more than a week, led by
tech, consumer and financial stocks, after soft U.S. inflation
data maintained hopes for a September rate cut by the Federal
Reserve.
The Toronto Stock Exchange’s S&P/TSX composite index
closed up 219.85 points, or 0.98%, at 22,618.18.
The U.S. producer prices index rose less than expected to
0.1% in July, while it moderated to 2.2% on a yearly basis, an
indication that inflation pressures continued to moderate.
Analysts said they are looking forward to Wednesday’s
consumer price index (CPI) data in the U.S. that could indicate
if a September rate cut is on the cards.
“Investors are looking at every data point to gauge whether
the North American economy is slowing…
