Canadian stocks continued to trend upward for the third consecutive session on Wednesday, supported by largely positive corporate earnings and U.S. consumer inflation data that met expectations. The S&P/TSX Composite Index climbed by 66 points, or 0.3%, to settle at 24,989, posting a fresh all-time high on a closing basis.
Losses in metals prices across the board continued to pressure shares of mining companies. Similarly, sectors like healthcare and consumer noncyclicals also witnessed weakness. Nevertheless, solid gains in energy and technology stocks provided a solid backbone for the TSX’s upward movement.
Top TSX Composite movers and active stocks
Shares of CAE (TSX:CAE) surged by nearly 12% to $30.18 per share, making it the top-performing TSX stock for the day. This spectacular rally in CAE stock came a day after the Saint Laurent-headquartered industrial firm announced its latest quarterly financial results.
In the second…
