TORONTO — Canada’s main stock index rose 1.5 per cent Thursday, helped by gains in materials and technology stocks, as U.S. markets also gained ground.
The S&P/TSX composite index was up 541.51 points at 36,633.12.
Allan Small, senior investment adviser at iA Private Wealth, said that the materials sector benefited from gains in gold prices, which rose on the back of U.S. interest rate expectations. The December gold contract was up US$125.30 at US$4,539.90 an ounce.
“Seems like everything’s working and gold is up and materials are up because of this notion that maybe the Fed won’t have to raise rates in September,” he said.
Small pointed to comments
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