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CANADA STOCKS-Uranium producers help lift TSX to another record high

ReutersSep 15, 2025 8:44 PM
  • TSX ends up 0.5% at 29,431.02
  • Surpasses Thursday's record closing high
  • Energy rises 0.8% as oil settles 1.1% higher
  • Cameco jumps 9.9%

By Fergal Smith

- Canada's main stock index rose to another record high on Monday as energy and technology shares notched gains, and ahead of expected moves this week by the Bank of Canada and the Federal Reserve to resume their easing campaigns.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 147.20 points, or 0.5%, at 29,431.02, eclipsing last Thursday's record closing high.

Wall Street's three major indexes also closed up as investors awaited an expected interest rate cut by the Fed on Wednesday. The BoC is also expected to lower rates on Wednesday after leaving its benchmark rate on hold at 2.75% since March.

"Recent soft economic numbers on both sides of the border have increased the pressure on central bankers to do something," Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note.

The energy sector rose 0.8% as the price of oil CLc1 settled 1.1% higher at $63.36 a barrel after Ukrainian drone attacks on Russian refineries. Uranium shares were among the biggest advancers, with Cameco Corp CCO.TO jumping 9.9%.

Canadian oil sands producer MEG Energy MEG.TO urged shareholders to reject the sweetened takeover bid from its majority stakeholder Strathcona Resources SCR.TO and reaffirmed support for sale to Cenovus Energy CVE.TO. Cenvous rose 1.9%, while Strathcona was down 1.8% and MEG ended barely changed.

Technology was up 0.8% and heavily weighted financials added 0.5%.

Canadian home sales rose for a fifth straight month in August as increased activity in the regions of Montreal, Greater Vancouver and Ottawa offset a decline in the Greater Toronto Area, data from the Canadian Real Estate Association showed.

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