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Market Update: TSX Extends Record-Setting Rally
Canadas main stock index climbed for the third straight session on Thursday, with the benchmark S&P/TSX composite closing above 19,800 for the first time, as better-than-expected quarterly profits from major lenders helped drive gains in most sectors. Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce have mostly avoided increases in loan impairments given the improved economic outlook. Also, data in the US pointing to a continuous recovery in the labour market supercharged the existing bullish sentiment. Denison Mines Corp and Martinrea International Inc were among the biggest gainers on the index, up 12% and 5.8%, respectively. [/s2If]
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