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TSX ends up 0.1% at 24,033.99
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Eclipses Thursday's record closing high
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Energy climbs 3.4%; oil settles up 2.4%
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Materials group adds 1% as gold rises
(Updates at market close)
By Fergal Smith
Oct 1 (Reuters) - Canada's commodity-linked main stock
index inched up to a record closing high on Tuesday, adding to
blockbuster third-quarter gains, as resource shares benefited
from higher oil and gold prices after an escalation in the
Middle East conflict.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 33.62 points, or 0.1%, at 24,033.99, slightly
eclipsing the record closing high it posted on Thursday.
"With some of the concerns in the Middle East and the
strength in oil and the commodities, the TSX did well versus
some of the other peers," said Greg Taylor, a portfolio manager
at Purpose Investments.
U.S. stocks fell as investors grew more cautious after Iran
fired missiles at Israel.
The TSX's energy sector climbed 3.4% as oil settled
2.4% higher at $69.83 a barrel. Gold, a traditional safe
haven, also rose, helping to lift metal mining shares.
The materials sector, which includes metal miners and
fertilizer companies, added 1%. All the other major sectors lost
ground, with technology falling 1.6% and industrials ending 0.8%
lower.
The Toronto market climbed 9.7% in the third quarter, its
biggest quarterly gain in four years, as gold soared to record
highs and major central banks, such as the Federal Reserve and
the Bank of Canada, cut interest rates.
Lower borrowing costs boosted domestic manufacturing
activity in September. The S&P Global Canada Manufacturing
Purchasing Managers' Index increased to 50.4 from 49.5 in
August, its first move above the 50.0 no-change mark since April
2023.