FX.co ★ TSX Closes at Historic High

The S&P/TSX Composite Index climbed 1% on Tuesday, closing at a new all-time high of 30,901. This advance follows a 1.5% increase on Monday, fueled by heightened expectations for a potential US rate cut in December. The rally was notably led by railway giants Canadian Pacific and Canadian National, each marking gains of just over 2%. Additionally, financial institutions like RBC, BMO, Scotiabank, Brookfield, and Manulife saw increases ranging from 1.1% to 2.1%. In other corporate news, Barrick Gold has agreed to a settlement valued at approximately $430 million (244 billion CFA francs) to settle disputes concerning the Loulo Gounkoto complex. Moreover, Cameco's shares soared 4.7% as Canada and India neared the finalization of an estimated $2.8 billion uranium export agreement. These developments at the corporate level bolstered investments in cyclical and resource sectors, further supporting the market's upward movement.