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CANADA STOCKS-Toronto market extends record-setting run as gold miners climb
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CANADA STOCKS-Toronto market extends record-setting run as gold miners climb
Oct 3, 2024 12:29 AM

*

TSX ends up 1.28 points at 23,867.55

*

Posts a record closing high

*

Materials group gains 0.6%

*

For the week the index adds 1.3%

(Updates at market close)

By Nikhil Sharma and Fergal Smith

Sept 20 (Reuters) - Canada's main stock index on Friday

inched past the record high it hit a day earlier, helped by

gains for the shares of gold miners and uranium producers but

the move was limited as investors took stock of recent advances

for the market.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 1.28 points at 23,867.55, moving past the

record closing high it posted the previous day.

For the week, the index was up 1.3%, its sixth weekly gain

in the last seven weeks, after the Federal Reserve cut interest

rates for the first time in four years, boosting investor

sentiment globally.

"Today, I think the market (is) just taking a bit of a

breather," said Allan Small, senior investment advisor at Allan

Small Financial Group with iA Private Wealth. "I haven't really

seen anything that would warrant caution."

Domestic data was upbeat. It showed retail sales rising 0.9%

in July from June, eclipsing expectations for a gain of 0.6%,

while a preliminary estimate showed sales increasing 0.5% in

August.

The materials group, which includes fertilizer companies and

metal mining shares, added 0.6% as the price of gold

climbed 1.3% to notch a record high.

Uranium producers were among the biggest gainers, with

shares of Cameco Corp ( CCJ ) adding 8.1%.

Utilities and consumer staples both gained 0.5%, while

industrials were a drag, falling 0.9%, including declines for

railroad shares.

Energy also lost 0.9% as the recent rebound in oil prices

paused. U.S. crude oil futures settled 3 cents

lower at $71.92 a barrel.

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