TSX Approaches Record High as Financial Stocks Advance
Canada's main stock index rose 0.7% on Thursday to reach its highest closing level since early March. Financial and consumer discretionary sectors led the gains while investors monitored geopolitical tensions and prepared for major bank earnings reports scheduled for next week.
Canada stocks rose 0.7% on Thursday as the S&P/TSX composite index climbed to 34,409.49 points. The index finished at its highest level since March 2, fueled by gains in the financial and consumer discretionary sectors. Investors are now positioning for a heavy slate of bank earnings scheduled for the coming week.
### Financials and Auto Parts Lead the Advance The heavily weighted financial sector climbed 1.1% during the afternoon. Shares of Bank of Montreal rose 1.5% as the market prepared for quarterly reports from the nation's largest lenders.
