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TSX Surges to New Heights, Extending Winning Streak to Nine Days

The Toronto Stock Exchange (TSX) continues its impressive rally, closing at yet another record high as its winning streak stretches to nine consecutive trading days. The benchmark S&P/TSX Composite Index  rose 0.3% , adding 74.4 points  to settle at 25,971.9 .  This latest surge marks a 2.4% weekly gain , reinforcing investor optimism amid strong performances across multiple sectors. Healthcare led the charge with a 1.2% increase , while Basic Materials saw a slight dip of 0.2% .  Market analysts attribute the sustained momentum to robust corporate earnings, stable commodity prices, and easing trade tensions . With 74% of TSX-listed stocks closing higher , the bullish sentiment remains strong, fueling expectations for continued growth in the coming weeks.  Investors will be watching closely to see if the TSX can maintain its upward trajectory and extend its streak into double digits.
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Bank of England Holds Rates Steady at 5.25% Ahead of UK Election

 


The Bank of England (BoE) has maintained its main interest rate at a 16-year high of 5.25% in anticipation of the upcoming July 4 election. While some policymakers considered a rate cut, the decision remained “finely balanced.” 

The BoE’s Monetary Policy Committee voted 7-2 to keep rates unchanged, aligning with economists’ expectations. BoE Governor Andrew Bailey emphasized that it was “good news” that inflation had returned to its 2% target, but cautioned against premature rate cuts. Sterling dipped against the U.S. dollar following the announcement, and markets now anticipate an 88% chance of a quarter-point cut by September. Despite the election context, the BoE clarified that the decision was unaffected by political considerations. 

The evolving economic indicators will guide future rate decisions, with most economists expecting a cut in August. However, this timing may not benefit Prime Minister Rishi Sunak, whose Conservative Party trails the opposition Labour Party in pre-election polls. The BoE’s stance reflects the delicate balance between inflation concerns and economic recovery.

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