The Globe and Mail reports in its Wednesday edition that Canada's main stock index clawed back some earlier declines to end higher on Tuesday, led by financial and gold-mining shares, as investors weighed hotter-than-expected domestic inflation data as well as escalating tensions between Russia and Ukraine. A Reuters dispatch to The Globe says the S&P 500 and Nasdaq also closed higher. The S&P/TSX Composite Index ended up 33.83 points at 25,010.77. "There are some positive narratives that are developing with the inflation print that we had and the fact that maybe there is no real need to have an accelerated rate cut cycle here as well," said Sid Mokhtari, chief market technician for CIBC Capital Markets. "That is buoying some of the financials." Canada's annual inflation rate climbed to 2 per cent in October, spurring investors to reduce bets on an outsized interest-rate cut by the Bank of Canada next month. The financials sector rose 0.2 per cent, adding to its recent gains. The materials group was up 1.7 per cent as gold benefited from a safe-haven bid amid tensions in the Russia-Ukraine conflict. Oil also gained ground. TC Energy, however, fell as investors weighed the company's 2025 core profit forecast.