Canadian stocks started the holiday-shortened week with strong momentum, as upbeat corporate earnings and a rally in precious metals helped drive broad-based gains. Hopes that the U.S. Federal Reserve may consider slashing interest rates in the near term added to the bullish tone. As a result, after falling for three consecutive sessions, the S&P/TSX Composite Index jumped by 550 points, or 2%, to settle at 27,570 — registering its biggest single-day percentage gain since April 11 to post a new all-time high.
While most sectors posted gains, the TSX rally was largely fueled by strength in mining, technology, and healthcare stocks.
Top TSX Composite movers and active stocks
Denison Mines (TSX:DML) surged by 9.3% to $3.07 per share, making it one of the top-performing TSX stocks for the day. These strong gains in DML stock came after the firm received provincial environmental assessment approval to move forward with development at…
