Canada Stocks-TSX Hits Record High, Led by Tech and Financial Shares
EWC•TSX closes at another record high
Canada's main stock index rose to another record high on Tuesday, benefiting from a global rotation out of semiconductor stocks into sectors more favorable for the domestic market.
The S&P/TSX Composite Index .GSPTSE ended up 181.56 points, or 0.5%, at 35,749.70, eclipsing Monday's record closing high.
Tech and financial shares lead gains
The technology sector .SPTTTK rose 5.1%, with shares of Celestica CLS.TO adding 9.5% after the electronic equipment firm beat earnings estimates. Constellation Software CSU.TO was another standout, adding 6.4%.
Heavily weighted financials .SPTTFS rose 1.1% and consumer staples .GSPTTCS ended 2% higher.
Materials and energy weigh on the index
The materials group .GSPTTMT, which includes metal mining shares, was a drag, falling 1.6%, as the price of gold XAU= dropped.
Oil CLc1 also lost ground, settling 4.1% lower at $79.26 a barrel, on cautious hopes that the pause in fighting between the United States and Iran will lead to talks to end the war. Energy was down 1%.
