TSX Rises Toward Record Highs

The S&P/TSX Composite Index rose about 0.4% to trade above the 30,700 level on Tuesday, extending yesterday’s 1.5% surge as growing bets on a US December rate cut supplied broad support and pushed the benchmark closer to record highs.

Railway operators Canadian Pacific and Canadian National Railway were among the top performers, each adding just over 1%, while Scotiabank and Manulife gained around 1% and Agnico Eagle outperformed with similar advances.

In corporate news Barrick Gold agreed to a 244 billion CFA francs settlement worth about $430 million to resolve disputes over the Loulo Gounkoto gold complex, and Cameco rose more than 1% as Canada and India moved toward finalising a roughly $2.8 billion uranium export deal, developments that helped underpin sector specific flows across the market.