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TSX ends up 1% at 30,900.65

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Eclipses November 12 record closing high

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Consumer-related shares pace gains

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Energy falls 0.6% as oil settles lower

(Updates at market close)

By Fergal Smith

TORONTO, Nov 25 (Reuters) - Canada's main stock index

rose to a record high on Tuesday, led by gains for

consumer-related stocks, as investors expected lower interest

rates and infrastructure spending to help lift economic growth

next year.

The S&P/TSX composite index ended up 296.30

points, or 1%, at 30,900.65, eclipsing the November 12 record

closing high.

Wall Street also advanced as a spate of economic data

appeared to support the case for the U.S. Federal Reserve to

implement its third and final rate cut of the year in December.

"I can understand why the markets are excited," said Barry

Schwartz, chief investment officer at Baskin Wealth Management.

"We seem to be in a much more calm political environment at the

moment ... and now the focus is on infrastructure. Big plans in

both Canada and the U.S."

Canadian Prime Minister Mark Carney has committed to invest

about C$280 billion over five years in infrastructure as well as

on measures to raise productivity and competitiveness.

"We're getting the sense that 2026 is setting up to be a

terrific year for the North American economy as well as

corporate profits," Schwartz said.

The consumer staples and consumer discretionary

sectors added 2.6% and 2.2% respectively.

Shares of convenience store operator Alimentation Couche-Tard ( ANCTF )

were up 4.9% after the company beat quarterly profit

estimates.

Financials added 1.1% and industrials ended 1.6% higher.

Energy was the only one of 10 major sectors to end

lower, losing 0.6%. The price of oil settled 1.5% lower

at $57.95 a barrel as Ukraine hinted that an intense diplomatic

push by the U.S. administration to end Russia's war against it

could be making progress.

The TMX Group ( TMXXF ), which operates the Toronto Stock Exchange, is

expecting a big pickup in stock market listings heading into

2026, boosted by a robust pipeline of companies that are aiming

to tap the capital markets in the coming months, executives at

the firm told Reuters. Shares of TMX were down 0.9%.