The S&P/TSX Composite Index climbed 360 points, or 1.9% to 19,773 on Friday, the most since May 13th and the highest close since August 29th with strong support from resource-backed stocks. The energy and materials sectors benefitted from the rebound in crude oil and bullion prices and rose by 2.7% and 2.4%, respectively. Also, shares in the technology sector, which are particularly sensitive to borrowing costs, booked sharp gains as concerning labor market data weakened the case for continuously aggressive rate hikes by the Bank of Canada. The domestic jobless rate was at 5.4% in August, rising from the record low of 4.9% in the previous month and largely missing expectations of 5%. On the week, Toronto’s benchmark stock index advanced 2.6%.
Historically, the Canada Stock Market Index (TSX) reached an all time high of 22213.07 in April of 2022. Canada Stock Market Index (TSX) - data, forecasts, historical chart - was last updated on September of 2022.
The Canada Stock Market Index (TSX) is expected to trade at 18806.42 points by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. Looking forward, we estimate it to trade at 17478.66 in 12 months time.