financetom
World
financetom
/
World
/
CANADA STOCKS-Energy shares help lift TSX to near record closing high
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-Energy shares help lift TSX to near record closing high
Jun 10, 2025 2:02 PM

*

TSX ends up 0.2% at 26,426.31

*

Stops just short of record closing high

*

Energy rises 1.3%, with Cenvous up 2.4%

*

Materials is only major sector to end lower

(Updates at market close)

By Fergal Smith

June 10 (Reuters) - Canada's main stock index rose on

Tuesday, led by energy and consumer-related stocks, as investors

welcomed recent signs of economic resilience and potential

progress in U.S.-China trade talks .

The S&P/TSX composite index ended up 50.51 points,

or 0.2%, at 26,426.31, stopping just short of the record closing

high it posted on Friday.

"Markets are enjoying the moment," said Angelo Kourkafas,

senior investment strategist at Edward Jones, adding that

economies, particularly in the U.S., remain resilient, corporate

profits are rising and global trade tensions are easing.

U.S. Commerce Secretary Howard Lutnick said trade talks with

Chinese officials were going well and he hoped they would end on

Tuesday night, but said they could run into Wednesday.

The energy sector rose 1.3% even as the price of oil gave

back some recent gains, settling 0.5% lower at $64.98 a barrel.

Cenovus Energy ( CVE ) is in the process of ramping up

production at its Christina Lake oil sands site in Alberta after

shutting output due to wildfire risk in early June, its CEO

confirmed. Shares of Cenovus ended 2.4% higher.

Consumer staples added 1.7% and consumer discretionary was

up 1%.

The materials sector was the only one of 10 major sectors to

lose ground, falling 1.2% as the price of gold steadied

and copper prices dipped.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
FOREX-Dollar hits 10-year low against Swiss franc as markets digest trade war drama
FOREX-Dollar hits 10-year low against Swiss franc as markets digest trade war drama
Apr 10, 2025
* Dollar hits lowest against Swiss franc since January 2015 * Data shows US inflation cooling in March * Trump paused reciprocal duties on most countries for 90 days * Trade war with Beijing intensifies * Euro makes biggest one-day jump since 2022 * Reuters LIVE coverage (Updates headline, first paragraph and prices throughout; adds fresh analyst quote in paragraphs...
Global X Files Preliminary Prospectus, Seeking to Launch Canada's First Triple-Leveraged ETFs
Global X Files Preliminary Prospectus, Seeking to Launch Canada's First Triple-Leveraged ETFs
Apr 10, 2025
04:43 PM EDT, 04/10/2025 (MT Newswires) -- Global X Investments Canada after market close Thursday said it filed a preliminary prospectus for the launch of three daily triple-leveraged exchange-traded funds (ETFs) and three daily triple-leveraged inverse exchange-traded funds within its BetaPro by Global X suite. Subject to regulatory and stock exchange approval, it added the ETFs will provide Canadian investors...
US Markets Resume Slide Late Thursday as Trade War Worries Persist
US Markets Resume Slide Late Thursday as Trade War Worries Persist
Apr 10, 2025
03:57 PM EDT, 04/10/2025 (MT Newswires) -- US equity indexes were paring some of their earlier retreat shortly before Thursday's close as investors weighed the potential impact of the escalating trade war between the US with China and possible economic downturn. The Nasdaq was sinking 5.5% to 16,187.8, recovering about a quarter of the decline around midday, with the S&P...
Equity Markets Sink Intraday as Investors Track Tariff Updates
Equity Markets Sink Intraday as Investors Track Tariff Updates
Apr 10, 2025
02:32 PM EDT, 04/10/2025 (MT Newswires) -- US benchmark equity indexes tumbled intraday following a rally in the previous session, as markets tracked tariff updates. The Nasdaq Composite was down 3.8% at 16,488.6 after midday Thursday, while the S&P 500 slid 3% to 5,290.8. The Dow Jones Industrial Average lost 2.3% to 39,659.6. All sectors were lower, led by energy....
Copyright 2023-2026 - www.financetom.com All Rights Reserved