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Market Update: TSX Extends Record-Setting Rally
Canadian shares rose for a second session on Friday, with the benchmark S&P/TSX Composite notching a fresh record high above the 20,400-level and recording its third consecutive week of gains. The market continues to benefit from the upward momentum seen in the last couple of weeks, with investors optimistic over the countrys economic recovery, while concerns about the spread of the contagious Delta variant have taken a back seat. On the data front, recent figures from Canada’s Ivey Purchasing Managers’ Index data for July showed economic activity fell to a six-month low. Also, the Canadian economy created only 94 thousand jobs in July, well short of the consensus estimate for a 177.5 thousand rise. [/s2If]
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