Toronto stock market up

Toronto stock market up

DAY

The last quarter of the year got off to a good start for the Toronto Stock Exchange, which experienced a second consecutive day of gains on Tuesday, after a more difficult second half of September. 

The S&P/TSX Index posted a gain of more than 450 points by mid-afternoon on Tuesday, up 2.45%, dragged into an upward spiral like the other global stock exchanges.

The day before, the S&P/TSX had already started to recover with a gain of 437 points, up 2.4%.

The index is now at just over 19,300 points, a level similar to that reached in mid-September, before the S&P/TSX plunged 1,000 points at the end of the third quarter .

“Investor hopes for a soft landing for the economy are rekindled and hinged on central banks around the world slowing or eventually slowing the pace of their policy tightening. nt monetary”, explained to AFP Konstantin Oldenburger, analyst at CMC Market, to demystify the revival of the stock market in Canada, but also in New York and in Europe.

At the same time, the value of the Canadian dollar also rose on Tuesday, boosted by the rise in black gold. The WTI reference barrel for November delivery was trading at US$86.52 at midday (+3.48%), compared to US$63.38 for Western Canada Select (+3.83%).