Canada Stocks Close Higher; Metals and Mining Lead Gains; Household Credit Grows Moderately
Canadian stocks moved higher on Tuesday reversing 2-consecutive days of losses. Most sectors were higher led by Metal and Mining which notched up slightly more than a 3% gain while Telecom capped gains.
RBC says Canadian households increased the pace of debt accumulation in February with the year over year rate of increase in balances outstanding edging up to 4.1% after holding steady at 4.0% in January. According to RBC, even with the uptick in February, household credit continued to post the slowest gains year-to-date since 1996.