Forex
TSX Soars 1.1% Amid Mining Boom and Fed Inflation Focus
Canada's main stock index enjoyed hearty gains on Thursday, driven by mining stocks that followed higher precious metal prices. The TSX rose 382.99 points, or 1.1%, to finish at 35,874.26.
The US Federal Reserve's reaffirmed focus on fighting inflation lifted broader risk appetite and supported the rise in Canadian equities. Major miners like Discovery Mining and AbraSilver Resource saw significant gains, with prices increasing by 86 cents and 87 cents respectively.
Other notable gainers included First Majestic Silver and Americas Gold and Silver, which rose 6.5% to $27.28 and 10.8% to $7.10 respectively. In contrast, consumer discretionary stocks like Restaurant Brands International and Dollarama saw declines of 2.6% and 1.1%.