09.09.202513:39:41UTC+00TSX Aims at Fresh Record High

The S&P/TSX Composite slightly advanced, surpassing the 29,050 threshold on Tuesday, as the Toronto stock exchange, rich in commodities, aimed for new record levels. This surge was driven by increases in oil and gold prices and bolstered by investors anticipating potential interest rate cuts from the Bank of Canada and the US Federal Reserve later this month. The market's optimism was fueled by recent lackluster employment data from both nations, reinforcing expectations of monetary policy easing from both central banks. Key energy sector players, including Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus, were standout performers, gaining between 1.1% and 2.7%, following OPEC+'s decision for a smaller-than-anticipated production hike and the imposition of new US restrictions on Russian oil. Additionally, news of a merger between London-listed Anglo American and Teck Resources propelled Teck's stock upwards by over 15%.