After a few days of uninspired trading, Canadian markets posted gains on Thursday alongside a broader global rally after the US Federal Reserve reaffirmed its focus on bringing inflation under control. Rising gold prices helped lift sentiment, while Bank of Canada Governor Tiff Macklem warned that inflation is likely to remain elevated and indicated the central bank stands ready to increase rates further if necessary. Investors are also watching Prime Minister Mark Carney’s address to the European Parliament, as discussions over the EU’s proposed associate membership for Canada continue to strain relations with Washington.
South of the border, US equities staged a partial recovery after this week’s selloff, which was triggered by the Federal Reserve’s first interest rate hike in three years.
| TSX | 35,874.26 | +382.99 |  |
| TSXV | 919.61 | +23.51 | |
| CSE | 175.93 | +0.78 | |
| DJIA | 51,778.04 | +316.14 | |
| NASDAQ | 26,418.30 | +439.87 | |
| S&P 500 | 7,637.76 | +85.95 | |
The Canadian dollar remained at 71.48 cents US since Wednesday.
US crude futures traded $1.17 lower at US$101.30 a barrel, and the Brent contract lost US$1.72 to US$104.10 a barrel.
The price of gold was up US$15.20 to US$4,342.20.
In world markets, the Nikkei was up 213.25 points to ¥64,136.25, the Hang Seng was down 109.49 points to HK$24,604.29, the FTSE was up 132.12 points to ₤10,819.30, and the DAX was up 178.96 points to €25,716.71.
