The Globe and Mail reports in its Friday edition that Canada's main stock index rose to a record high on Thursday as investors assessed a mixed set of quarterly earnings from top domestic banks and pinned hopes on the Bank of Canada continuing its easing cycle at a policy decision next week. A Reuters dispatch to The Globe notes that U.S. stocks closed slightly lower. The S&P/TSX Composite Index ended up 38.86 points at 25,680.04, moving past the record closing high it posted last Friday. "Over all, several of the Canadian banks have done fairly well considering the circumstances," said Shiraz Ahmed at Raymond James. Banks tend to be sensitive to the economy. The heavily weighted financials sector rose 0.3 per cent, helped by a gain of 4.4 per cent for CIBC shares, and 4.2 per cent for BMO's after both lenders reported quarterly results. In contrast, TD shares tumbled 7.1 per cent after the bank warned of a challenging 2025 and suspended its medium-term earnings forecast. The energy sector was up 0.8 per cent, recouping some of Wednesday's decline, as OPEC+ delayed its planned output increase until April, 2025. Canada's employment report for November, due on Friday, may help guide expectations for more rate-easing.
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