Hopes of a steep rate cut in the United States and rising metal prices helped the Canadian equities market rise for the third consecutive session on Friday, effectively wiping out all losses from the previous week. After climbing as much as 162 points in intraday trading, the S&P/TSX Composite Index closed up 94 points, or 0.4%, at 23,569, marking a new all-time high for the benchmark.
Even as some consumer and industrial stocks trended downward, strong gains in other key sectors, including real estate, mining, and utility, drove the market index higher.
Top TSX Composite movers and active stocks
Shares of Canfor (TSX:CFP) inched up by 7% to $15.79 per share, making it one of the top-performing TSX stocks for the day. This rally in CFP stock came a day after the Vancouver-headquartered forest products manufacturer announced its intention to explore the divestiture of some of its northern BC tenure assets…
