TSX posts 1% monthly gain in August as financials rise
TSX ends up 0.5% at 23,346.18
Posts a monthly gain of 1%
Canadian second-quarter GDP rises 2.1%
CIBC gains 1.6% after earnings beat
Updates at market close
By Fergal Smith
Aug 30 (Reuters) -Canada's main stock index added to its monthly advance on Friday, helped by gains for financial and technology shares, as investors cheered U.S. data that showed the economy on a solid footing.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 118.69 points, or 0.5%, at 23,346.18, stopping just short of Monday's record closing high. For the month, the TSX added 1% after climbing 5.7% in July.
U.S. consumer spending increased 0.5% in July and prices rose moderately, curbing inflation, a report from the U.S. Commerce Department showed.
"Overall, it looks like the U.S. economy is fine," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. "The market is liking it."
Canada sends about 75% of its exports to the United States. Separate data showed the Canadian economy grew at a faster-than-expected annualized pace of 2.1% in the second quarter but still at a pace that was consistent with further interest rate cuts by the Bank of Canada.
The central bank will cut its benchmark rate by 25 basis points for a third straight meeting on Sept. 4 and again in October and December, a Reuters poll showed.
Heavily weighted financials rose 1%, helped by a gain of 1.6% for the shares of Canadian Imperial Bank of Commerce CM.TO after the bank beat earnings estimates. CIBC was the last of Canada's six major banks to report results.
"I don't have a problem with the earnings and in fact on any dips I've been buying Canadian banks," Small said.
Technology added 1.3% but energy was a drag, falling 1.4%, as the price of oil CLc1 settled 3.1% lower at $73.55 a barrel on expectations of a rise in OPEC+ supply starting in October.
Reporting by Fergal Smith in Toronto and Nikhil Sharma in Bengaluru; Editing by Vijay Kishore and Cynthia Osterman
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
