TSX closes at new high, inflation slows, material shares gain

From Nasdaq.: 2024-05-21 17:27:17

The Canadian market closed at a new high, with the S&P/TSX Composite Index ending at 22,416.01, up 0.01%. Inflation in Canada slowed to 2.7% in April, prompting expectations of interest rate cuts. Material shares like Centerra Gold and Energy stocks like Africa Oil Corp saw gains. Notable gainers also included West Fraser Timber. Quebecor Inc and ATS Corporation saw declines, with Quebecor dropping by nearly 9%. Restaurant Brands International and Shopify Inc also closed lower. The views expressed in the article are solely those of the author.



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