The Globe and Mail reports in its Thursday edition that Canada's main stock index edged up on Wednesday to a record closing high as investors cheered two more quarterly bank earnings and assessed prospects of consolidation in the insurance sector. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended up 14.45 points at 26,283.45, eclipsing Tuesday's record closing high. Bank of Montreal and National Bank beat analysts' estimates for quarterly earnings. "Bank earnings were quite impressive given the risks that are facing the Canadian economy right now," commented Colin Cieszynski, chief market strategist at SIA Wealth Management. Canadian property and casualty insurer Definity Financial rose 11.3 per cent after it purchased the Canadian operations of U.S. insurance giant Travelers. It spurred speculation there could be more consolidation in the insurance industry. U.S. crude oil futures settled up 1.6 per cent as OPEC+ agreed to leave their output policy unchanged and the United States barred Chevron from exporting Venezuelan crude. Wall Street shares ended lower as investors digested minutes from the last Federal Reserve meeting. The Dow Jones Industrial Average fell 244.95 points to 42,098.70.