Energy Stocks Send Canada’s TSX on a Run Past 20,000 Milestone
A mural dedicated to healthcare workers in Toronto, where the benchmark S&P/TSX composite index is up 14% this year.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canada’s main stock index rose above 20,000 for the first time Tuesday, aided by a gain in energy shares, a rotation to value stocks and global economies emerging from the depths of Covid-19 lockdowns.
The S&P/TSX Composite Index jumped as much as 1.5% before paring those gains to close up 1.2% at 19,976.01. It was the biggest gain in two months. Energy shares led the way, with Inter Pipeline Ltd. gaining almost 8% after Pembina Pipeline Corp. agreed to acquire the Calgary-based pipeline company.