Higher prices for commodities supported the Canadian equities market on Tuesday, as investors speculated about what the Bank of Canada would do with interest rates in the near future. The S&P/TSX Composite Index rose by 110 points, or 0.5%, to 21,035 — settling above the key psychological level of 21,000 for the first time in a week.
Despite minor weakness in utility stocks, all other key TSX sectors rose sharply, including metal mining, consumer, and technology.
Top TSX Composite movers and active stocks
IAMGOLD (TSX:IMG) jumped by over 15% to $3.58 per share, making it the top-performing TSX Composite component for the day. This rally in IMG stock came a day after the Toronto-based gold miner announced its 2023 production results and progress at the Côté Gold project.
Last year, IAMGOLD achieved 465,000 ounces of attributable gold production with the strong performance of its Essakane and Westwood mines, aligning with the…
