By Nikhil Sharma
(Reuters) -Canada’s main stock index extended its record winning streak on Tuesday due to gains in energy and mining stocks after China’s monetary stimulus boosted commodity prices globally.
The Toronto Stock Exchange’s S&P/TSX composite index was up 91.12 points, or 0.38%, at 23,985.83, and was set to log its fourth straight session of record closing highs.
Energy and materials led the sectoral gains after China’s central bank unveiled its biggest stimulus since the pandemic to revive its struggling economy and steer it towards the government’s growth target.
“This would seem to be much closer to the beginning of stimulus than the end of stimulus,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.
The energy sector rose 1.7% after oil prices jumped more than 2% on supply concerns from the Middle East conflict and fears of another hurricane threatening U.S. output, along with stimulus from China….
