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TSX ends up 0.34% at 33,028.92
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Financials gain after robust U.S. banking results
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Energy stocks fall as oil prices sink
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Industrials get a boost from rising Bombardier shares
(Updates at market close)
By Fergal Smith
TORONTO, Jan 15 (Reuters) - Canada's main stock index
rose to another record high on Thursday, with industrial and
financial shares among the leading gainers rather than metal
mining stocks which had dominated the market's rally since the
start of the year.
The S&P/TSX Composite Index ended up 112.45
points, or 0.34%, at 33,028.92, moving past Wednesday's record
closing high.
U.S. stocks also rose as Morgan Stanley and Goldman Sachs
shares shot up following upbeat quarterly results, while
technology shares climbed after chipmaker TSMC's
blockbuster results.
"There's broader participation in today's move," said Bipan
Rai, head of ETF and alternatives strategy at BMO Global Asset
Management. "Certainly, you combine that with the outlook for
metals ... it does feel like this year should be constructive
for the TSX."
Record highs for the price of gold and silver
on geopolitical uncertainty have helped underpin the materials
sector in January. The sector has added 14.1% this
month after nearly doubling in 2025.
One of Canada's principal trading partners for minerals is
China. Prime Minister Mark Carney hailed Canada's improving ties
with the country as well as the leadership of President Xi
Jinping, declaring their nations were charting a new course in
cooperation at a time of global division and disorder.
"Part and parcel of the strategy from the prime minister's
office is to figure out ways to diversify Canada's trade
relationships more globally," Rai said.
Among the standouts on Thursday was the industrials sector
. It posted a gain of 1.42%, led by a 7.17% jump in
the shares of Bombardier Inc ( BDRPF ) after the business
aircraft manufacturer announced a new $100 million manufacturing
center in Dorval, Montreal.
Real estate rose 0.75% and heavily weighted financials
ended 0.55% higher.
The energy sector was a drag, falling 0.93%. The price of oil
settled 4.56% lower at $59.19 a barrel as concerns eased
over potential U.S. military action against Iran and oil supply
disruptions.