The Globe and Mail reports in its Thursday edition that U.S. and Canadian stock indexes closed with modest gains on Wednesday after a choppy trading session, with investors holding their cards close to the vest ahead of the U.S. presidential debate and an inflation report closely watched by Federal Reserve policy-makers. A Reuters dispatch to The Globe says that in Toronto, gains for the materials sector and industrials offset declines for interest-rate-sensitive shares. The S&P/TSX Composite Index ended up 5.42 points at 21,793.90. Canada's 10-year yield touched its highest level since June 11 at 3.482 per cent after data on Tuesday showed a surprise acceleration in Canadian inflation. The data have reduced the chances of the Bank of Canada cutting interest rates further in July. The materials group rose 1.3 per cent to notch its highest closing level since June 10. First Quantum shares were up 7.4 per cent after Deutsche Bank raised its target price on the stock. Industrials also posted gains. Financials fell, with Onex down 2.2 per cent. Onex's WestJet said a union representing its maintenance engineers had rejected its new pay offer and served a second strike notice. The Dow added 16.10 points to 39,128.26.
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