Canadian Stocks Reach Record as Shopify and Cyclicals Soar
- Health care index is the best performer this week, led by pot
- Reflation rally may mean bigger gains in second, third quarter
Pedestrians stand underneath a Toronto Stock Exchange ticker in November 2020.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canadian stocks closed at a record on Thursday, rallying alongside global markets, as investors focused on the prospect of higher government spending once Joe Biden takes office in less than two weeks.
The S&P/TSX Composite Index rose 1.1% to 18,027.57, surpassing the previous record of 17,944.06 set last February before the pandemic roiled markets. The country’s largest public company, Shopify Inc., jumped 6.9%.