TSX Ends Slightly Higher on Lower Than Expected Inflation
The TSX rose 0.04% as inflation reached 2.4%, below forecasts. Gains in energy and tech offset mining losses as oil prices rose amid geopolitical uncertainty.
The benchmark stock index in Canada closed with modest gains on Monday as investors reacted to domestic inflation data that came in lower than market forecasts. The S&P/TSX Composite Index in Toronto rose 13.74 points, or 0.04%, to end at 34,289.88, edging closer to the record closing high reached on March 2.
Annual inflation in the country increased to 2.4% in March, up from 1.8% in February, primarily driven by rising gasoline costs. Despite the uptick, the figure remained below the 2.6% level anticipated by economists, providing some relief to those concerned about potential interest rate hikes by the central bank.