Canadian market hits record high with gains in tech, materials; driven by high metal prices.

From NASDAQ.: 2025-01-30 18:34:32

The Canadian market reached a record high, driven by gains in the technology and materials sectors. Strong earnings from U.S. tech companies and high metal prices boosted stock prices. The S&P/TSX Composite Index increased by 1.31% to 25,808.25, hitting a new high of 25,875.61. Tech stocks like Celestica Inc and Sangoma Technologies surged, while materials companies like Fortuna Silver Mines and First Majestic Silver Corp also saw significant gains. Healthcare and real estate sectors also performed well. Average weekly earnings for Canadian employees rose by 5% in November 2024, according to Statistics Canada. Meanwhile, the CFIB business barometer index declined in January 2025.



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