TORONTO - Canada 's commodity-linked main stock index will take a breather for the rest of this year but is set to notch record highs as metal prices climb and expected lower borrowing costs bolster the outlook for the domestic economy, a Reuters poll found.
The median prediction of 21 portfolio managers and strategists in the May 13-22 poll was for the S&P/TSX Composite Index to advance just 0.1% to 22,500 by the end of 2024, but that is higher than the 21,750 expected in February's poll."As we go into 2025, markets will look forward to the positive impact of falling interest rates on the Canadian economy and global economy," said Macan Nia, co-chief investment strategist at Manulife Investment Management.
The financials sector, which includes banks, accounts for 29% of the Toronto market's weighting, while the energy and materials sectors account for a combined 33%. "The data would show strong momentum follows strong momentum. While a correction is always a possibility, it is no more a possibility today than in other periods," Petursson said.Why I Can’t Stop Buying Shares of This Magnificent High-Yield Dividend Stock in My TFSA
-- Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion.
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