TSX hits record high as healthcare and energy stocks advance
Updated at 10:10 a.m. ET/ 1510 GMT
By Nikhil Sharma
Nov 28 (Reuters) -Canada's main stock index touched a record high on Thursday, supported by healthcare and energy shares, while investors evaluated U.S. President-elect Donald Trump's recent tariff pledges.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 53.74 points, or 0.19%, at 25,542.04, and was set to hit a record closing high for a second straight session.
At least 11 sectors on the index logged gains, though the overall mood was subdued given the U.S. Thanksgiving holiday.
Healthcare .GSPTTHC sectors led the charge with 1.2%, helped by Bausch Health Companies' BHC.TO 4% rise.
Canadian 10-year benchmark yield CA10YT=RR fell as much as 4 basis points, marking its fifth-straight day of declines. This helpedrate-sentitive real estate GSPTTRE sector that rose 0.4%.
The energy sector .SPTTEN gained 0.4% as oil prices ticked up after Israel said its ceasefire with Lebanese armed group Hezbollah was violated and Israeli tanks fired on south Lebanon.O/R
"Market's off to a slow start this morning," said Michael Sprung, president at Sprung Investment Management, adding, "reverberations of the discussions over the proposed tariffs are beginning to permeate through the markets."
Investors earlier this week were unsettled after U.S. President-elect Donald Trump vowed to impose a 25% tariff on imports from Canada and Mexico.
"One of the main concerns going forward would be the inflationary push that these tariffs would create not only in Canada but in the United States as well."
On the data front, Canada's current account deficit narrowed to C$3.23 billion ($2.31 billion) in the third quarter from an upwardly revised C$4.70 billion deficit in the second quarter.
On Friday, domestic investors will take note of a reading from third-quarter annualized gross domestic product data, a key indicator that could dictate the Bank of Canada's move at its rate-setting meeting on Dec. 11.
Among individual stocks, Rogers Sugar EXE.TO shares rose 4.2% after the sugar products provider reported upbeat fourth-quarter results.
Reporting by Nikhil Sharma in Bengaluru; editing by David Evans and Ros Russell
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