Canadian stocks hit a new record high on Thursday as the Federal Reserve’s larger-than-expected rate cut fueled optimism about economic growth. This optimism, along with the ongoing bullish momentum in commodity prices across the board, drove the S&P/TSX Composite Index up by 274 points, or 1.2%, to 23,866.
Although utility stocks faced selling pressure, solid gains in most other key sectors, including technology, mining, consumer cyclicals, and financials, took the TSX benchmark to new heights as investors expect the Fed’s decision to boost corporate earnings and economic activity.
Top TSX Composite movers and active stocks
Ivanhoe Mines, Celestica, Lundin Mining, Energy Fuels, and ATS were the top-performing TSX stocks for the day, with each surging by at least 5%.
Shares of EQB (TSX:EQB) also climbed by 2.9% to $102.20 per share, extending its year-to-date gains to over 17%. EQB stock rallied after the Toronto-headquartered…
