By Nikhil Sharma and Divya Rajagopal
(Reuters) -Canada’s main stock index closed on Thursday at its highest level in more than a month as cooler-than-expected U.S. inflation data raised hopes the Federal Reserve would start cutting interest rates in September.
The S&P/TSX composite index was up 193.90 points, or 0.87%, at 22,544.13.
Real estate stocks led sector gains with a 2.61% jump, hitting the highest since April. Healthcare shares rose 1.3%. Energy stocks jumped 2.56%, in tandem with oil prices. [O/R]
The materials sector hit its highest in more than a month before paring gains. Broadly the sectoral indices closed up in green.
Among individual stocks, MTY Food Group shares closed up 11.12% to top the Toronto Stock Exchange after the company posted higher second-quarter profit. The stock hit a three-year high during the session as its quarterly numbers beat analyst expectations. Among other top gainers were precious metals miners…
