00:14:36 EDT Thu 03 Jul 2025
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Globe/wire say TSX closes at a record high 26,055

2025-05-21 09:03 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canada's main stock index rose to a record high on Tuesday, led by gains for metal mining shares. A Reuters dispatch to The Globe says investors shrugged off hotter-than-expected Canadian core inflation data and looked for further progress in the easing of global trade tensions. The S&P/TSX Composite Index ended up 83.7 points at 26,055.63, eclipsing its record closing high on Friday. The market was closed on Monday for the Victoria Day holiday. It was the 10th straight day of gains for the index, the longest daily winning streak since October, 2021. Finance leaders from the Group of Seven industrialized democracies will strive for unity on non-tariff issues when they meet in Canada this week, but may have trouble reaching consensus with a Trump administration intent on pushing allies to serve U.S. interests. Canada's annual inflation rate eased to 1.7 per cent in April, but two key measures of underlying inflation rose above 3 per cent, reducing expectations for a Bank of Canada interest rate cut next month. The materials group climbed 3.5 per cent as the price of gold rallied. The consumer staples sector was another standout, adding 1.5 per cent.

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