Update: TSX At Fresh All-time Highs; Most Sectors Climb, Led By Surge in Metals and Mining


Canada's main stock market, the Toronto Stock Exchange, took off again from where it left matters Monday, before Tuesday's Canada Day holiday - with upwards momentum taking it in to fresh record territory of 15,223.04. It had gained around 150 points in the three previous sessions. Today, the TSX made it a high five of consecutive days of gains on the way to hitting its record, before closing near 15,210.

With about 30 minutes of trading left, Canada's BNN TV said trading volumes were about 8% higher than usual. Helping the positive sentiment, early Wednesday the RBC Canadian Manufacturing Purchasing Managers' index, a measure of manufacturing business conditions, rose to a seasonally adjusted 53.5 in June from 52.2 in May.

Most sectors were higher led by Metals and Mining which surged nearly 4% and Info Tech which climbed by 1.4%, but Telecom bucked the trend declining 0.3%.

Of commodities, gold prices recouped early losses and closed at 3.5 month highs as traders await key U.S. jobs numbers Thursday and start to take positions ahead of the Independence Day Holiday on Friday. Bloomberg reported Wednesday afternoon that brent crude fell to the lowest level in almost three weeks as rebels in Libya said two oil ports they have held for a year are free to reopen. West Texas Intermediate also slipped.

Platinum touched nine month highs amid signs of increasing demand from car companies for the metal. Among related stocks, North American Palladium (PDL.TO), which jumped 10%. Copper prices climbed to a 16-week high in London on strong June manufacturing numbers out of China. Related stocks include First Quantum Minerals (FM.TO), up 3% and hitting 52 week highs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks:

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos



Most Active by Volume

  • $18.16 ▲ 1.57%
  • $31.24 ▼ 14.50%
  • $15.21 ▲ 3.61%
  • $26 ▼ 0.65%
  • $96.99 ▲ 1.78%
  • $35.76 ▲ 1.16%
  • $19.87 ▲ 0.61%
  • $46.29 ▲ 2.10%
As of 7/29/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com