Canada’s main stock market eked out a gain on Thursday, helped by strength in the telecom, utility and energy sectors.
The S&P/TSX composite index closed up 20.35 points at 22,244.02. The increase came as U.S. stock markets were closed for the July 4 holiday.
“It’s a slow trading day in Canada because of the U.S. holiday,” said Anish Chopra, managing director with Portfolio Management Corp.
Investors are focused on Friday, which will bring fresh jobs numbers in both the U.S. and Canada, said Chopra. The data could have implications for interest rate cuts in both countries.
Economists expect the U.S. economy to have added about 190,000 jobs in June, down from May, said Chopra.
“The U.S. economy has been quite strong despite the rise in rates … over the last couple of years,” he said. “Economists are still expecting reasonable payroll growth.”
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