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24.10.202513:40:45UTC+00TSX Tracks US Peers Higher

The S&P/TSX Composite Index experienced a rise of approximately 0.5%, surpassing the 30,300 level on Friday. This increase was primarily driven by US inflation figures that came in cooler than expected, which enhanced investor sentiment and solidified the market's confidence in upcoming Federal Reserve interest rate cuts. These optimistic developments helped counterbalance the resurfacing trade tensions between Canada and the United States.

All nine major sectors recorded gains, with the tech sector, known for its sensitivity to interest rate changes, leading the way. Notable performers included Shopify, which climbed over 2.5%, Constellation Software, with a 1% increase, and Celestica, which gained around 4%. In the financial sector, Brookfield also saw gains, rising just over 1%. Nonetheless, the upward momentum was somewhat restrained by ongoing trade disputes after President Donald Trump's announcement on Thursday regarding the cessation of trade discussions with Canada. This decision, attributed to a contentious Ontario government advertisement, follows previous US tariffs on Canadian steel, aluminum, and automotive products, adding complexity to the ongoing sectoral negotiations. Overall, the Toronto Stock Exchange was set to achieve a weekly gain of over 0.5%.

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