18.12.202515:30:21UTC+00TSX Gains Nearly 1%

The S&P/TSX Composite Index experienced a notable uptick of nearly 1% on Thursday, surpassing the 31,000 threshold amidst a generally positive global market sentiment. This shift was buoyed by a US Consumer Price Index report that came in lower than expected, strengthening the belief that the Federal Reserve might implement further interest rate cuts in the coming year. The financial sector saw significant gains, led by major banks with Brookfield advancing by 2%, RBC increasing by over 1%, and TD rising 1.7%. Although gold prices softened, mining stocks still performed well, highlighted by Agnico Eagle's 1.6% gain and a 1.2% increase for Barrick. Conversely, energy producers faced downward pressure despite an uptick in oil prices, with Canadian Natural Resources slipping by 0.4% and Suncor marginally decreasing by 0.1%. Meanwhile, continued optimism surrounded cannabis stocks amid speculation that US President Trump might consider relaxing federal marijuana regulations, resulting in Canopy Growth extending its surge to nearly 20%.