The energy sector gained 1.5 per cent, extending its winning streak for a third session. Oil prices jumped as positive signs for global economic growth supported the outlook for energy demand.
Meanwhile, global sentiment was boosted by the congressional passage of the U.S. infrastructure bill. “Infrastructure spending increases demand for materials and at the end of the day, it’s still beneficial for Canada regardless of where the money actually gets spent, because in time that could push up commodity prices and production,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.Article content
The financials sector, which account for about 30 per cent of the Toronto market’s value, gained 0.6 per cent. “Financials have also been continuing to attract the interest off last week’s news that banks can start paying resuming reading dividends,” Cieszynski added.
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