TSX hits new record, while U.S. stock markets mixed
BNN Bloomberg
Canada's main stock index closed at a new record high for its 12th straight day of gains on the back of a strong performance from the industrials sector, while U.S. markets were mixed.
TORONTO -- Canada's main stock index closed at a new record high for its 12th straight day of gains on the back of a strong performance from the industrials sector, while U.S. markets were mixed.
Mike Archibald, vice-president and portfolio manager with AGF Investments Inc., said the S&P 500 index's gain in the U.S. on Thursday meant that exchange has had seven positive closes in a row.
“The short term momentum in the market is continuing here, albeit at a lower cook than the last four or five days in the market,'' said Archibald.
“It seems as though there's still a desire for money to flow into equities.''
The S&P/TSX composite index was up 24.20 points at 21,212.39 after closing at a record high on Wednesday. The industrials and information technology indices carried the exchange, with 1.26 per cent and 1.29 per cent rises in those sectors respectively.
In New York, the Dow Jones industrial average was down 6.26 points at 35,603.08. The S&P 500 index was up13.59 points at 4,549.78, while the Nasdaq composite was up 94.02 points at 15,215.70.
