14:24:27 EDT Fri 04 Jul 2025
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Globe/wire say TSX makes gains as oil prices rise

2025-04-21 06:27 ET - In the News

The Globe and Mail reports in its Friday edition that Canada's commodity-linked main stock index extended its recent winning streak on Thursday as oil prices climbed and recent market volatility lost some momentum. A Reuters dispatch to The Globe says Wall Street ended mixed, as investors weighed progress in U.S. trade negotiations with Japan against concerns about the interest-rate outlook. The S&P/TSX Composite Index ended up 86.02 points at 24,192.81, its fifth straight day of gains. For the holiday-shortened week, the index was up 2.6 per cent, which is the biggest weekly gain since September. The Toronto market's energy sector rose 2.2 per cent as the price of oil settled 3.5 per cent higher at $64.68 (U.S.) a barrel. Oil was supported by hopes for a trade deal between the United States and the European Union and new U.S. sanctions to curb Iranian oil exports. The interest-rate-sensitive utilities and real estate sectors also notched gains. The Bank of Canada paused its rate-cutting campaign on Wednesday but investors are betting that the central bank will resume interest-rate cuts in the coming months. Bausch Health rose 13.3 per cent after Fitch Ratings upgraded its issuer default rating on the company.

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