03.09.202513:46:11UTC+00TSX Aims at Fresh Record High

The S&P/TSX Composite Index increased by approximately 0.3%, surpassing the 28,630 mark on Wednesday, as it aimed to reach a new record high. The rise was driven by significant gains in major financial and mining stocks, as investors exercised caution prior to the release of pivotal Canadian and US labor data, which is anticipated to influence monetary policy decisions by both the Bank of Canada and the Federal Reserve. Leading the financial sector, RBC saw an increase of over 0.5%, while Agnico Eagle spearheaded the mining sector with nearly a 1% rise. In contrast, the energy sector lagged behind due to a decline in oil prices, following emerging signals of increased supply. Reports suggested that the OPEC+ group is contemplating boosting oil production at its upcoming meeting over the weekend, catching markets off guard, as they largely anticipated maintaining current production levels.