FX.co ★ TSX Hits New All-Time High

The S&P/TSX Composite Index advanced by 0.2%, closing at a new high of 30,161 on Thursday, driven by strong performances in the technology and financial sectors, which offset declines in the mining sector. Notably, Shopify and Constellation Software saw gains of approximately 1.3% and 1.8%, respectively, while Brookfield and Scotiabank increased by around 2.0% and 0.9%. Conversely, Agnico Eagle and Wheaton Precious Metals experienced declines of about 1.1% and 1.4%, respectively. Investors are anticipating further easing by the Bank of Canada, following the recent policy rate cut to 2.50% on September 17. The Bank's Summary of Deliberations suggested a willingness to consider additional rate cuts should downside risks persist. This sentiment was echoed by softening economic activity, as evidenced by the S&P Global's Canada Manufacturing PMI, which fell to 47.7 in September, marking its eighth consecutive month of contraction and indicating a slowdown in new orders and production output.