22.01.202614:40:42UTC+00TSX Aims at Fresh Record High

The S&P/TSX Composite Index increased by approximately 0.6%, surpassing the 33,050 mark on Thursday, as North American equities experienced a boost in confidence. This uplift came after President Trump withdrew from trade and geopolitical tensions linked to Greenland. The financial sector steered the market upwards, with notable performances from key players: Royal Bank of Canada climbed by about 0.6%, TD Bank rose by 0.7%, Bank of Montreal advanced by 0.8%, and CIBC increased by 0.7%. The industrial sector also augmented the rise, highlighted by Canadian Pacific Railway's 0.5% increase following its announcement to purchase 30 Tier 4 locomotives, part of an $800 million investment into U.S. operations. Concurrently, Canadian National Railway rose by 0.7%. Conversely, energy stocks limited larger market gains due to declining crude prices, with Canadian Natural Resources falling by 1.2%, Suncor decreasing by 0.6%, and Cenovus dropping by 0.7%. The materials sector displayed mixed results, as gains in precious metals companies, such as Agnico Eagle rising by 1.9% and Wheaton Precious Metals ascending by 2.2%, counterbalanced the downward pressure on other mining companies.