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TSX ends up 0.4% at 27,082.30
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Eclipses Friday's record closing high
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Industrials add 0.8%, led by Air Canada ( ACDVF )
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Uranium producer Energy Fuels ( UUUU ) jumps 16.3%
(Updates to market close)
By Fergal Smith
TORONTO, July 10 (Reuters) - Canada's main stock index
notched a record high on Thursday, led by gains for industrial
shares, as investors shrugged off ongoing trade uncertainty and
awaited domestic jobs data.
The S&P/TSX composite index ended up 109.98
points, or 0.4%, at 27,082.30, eclipsing Friday's record closing
high.
A solid U.S. Treasury auction and recent postponement of a
July 9 U.S. tariff deadline to August 1 have helped reassure
investors, said Kevin Headland, co-chief investment strategist
at Manulife Investment Management. "Everything seems to be in a
positive light right now."
Canada is seeking to finalize a free trade deal with
Southeast Asian nations as part of a push to expand into new
markets, its top diplomat said, responding to the hefty tariffs
imposed on it by the United States, its largest trade partner.
Canada's employment report for June, due on Friday, could
offer clues on how the domestic economy is coping with trade
uncertainty and guide expectations for the Bank of Canada
interest rate decision on July 30. Economists expect a flat
reading for jobs and the unemployment rate to tick up to 7.1%
from 7% in May.
"As long as there aren't any surprises on the weak side,
they're (the BoC) quite happy to hold rates where they are now
in case there are any surprise shocks for inflation," Headland
said.
The industrials sector rose 0.8%, helped by a gain of 3.7%
for Air Canada ( ACDVF )
Real estate was up 0.4% and heavily weighted financials
ended 0.6% higher.
Just three of the 10 major sectors ended lower. It included
energy, which lost 0.3% as the price of oil settled 2.65%
lower at $66.57 a barrel.
Shares of uranium producer Energy Fuels ( UUUU ) jumped
16.3% to the highest level since December 2024.