TSX Closes at Historic High
On Tuesday, the S&P/TSX Composite Index increased by 0.2%, reaching a new all-time high of 30,023. This rise was primarily driven by advancements in the mining sector, which counterbalanced the downturn in the energy sector. Investors were assessing the implications of a potential US government shutdown and its possible impact on economic data. Gold mining companies such as Agnico Eagle, Wheaton Precious Metals, and Franco-Nevada saw gains ranging from 0.9% to 1.5%, as gold prices continued to surge to new records. Conversely, energy sector giants like Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus experienced declines of 0.4% to 1.7% due to an anticipated increase in OPEC+ oil production. As the third quarter concluded, the TSX posted an overall gain of 11.7%.
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