(RTTNews) - The Canadian market climbed to a new record high on Wednesday, lifted by gains in technology and consumer discretionary stocks. The mood remained positive amid continued optimism about more interest rate cuts by the Federal Reserve, and several other central banks.
Investors digested the minutes of the Federal Reserve's monetary policy meeting, and looked ahead to U.S. consumer price inflation data, due on Thursday.
The benchmark S&P/TSX Composite Index ended with a gain of 152.39 points or 0.63% at 24,224.90, slightly off the new all-time high of 24,230.05.
Celestica Inc (CLS.TO) and West Fraser Timber (WFG.TO) climbed 4.75% and 4.65%, respectively. Calian Group (CGY.TO) rallied 3.6%.
FirstService Corporation (FSV.TO), Descartes Systems Group (DSG.TO), Dayforce (DAY.TO), Toromont Industries (TIH.TO), WSP Global (WSP.TO) and Kinaxis Inc (KXS.TO) gained 2 to 3%.
CGI Inc (GIB.A.TO), Colliers International (CIGI.TO), Waste Connections (WCN.TO), Shopify Inc (SHOP.TO), Constellation Software (CSU.TO) and George Weston (WN.TO) ended higher by 1.2 to 1.7%.
Fairfax Financial Holdings (FFH.TO), Rogers Communications (RCI.A.TO), Aritzia Inc (ATZ.TO), Cameco Corporation (CCO.TO), Ag Growth International (AFN.TO) and Tourmaline Oil Corp (TOU.TO) also ended with strong gains.
Alimentation Couche-Tard Inc (ATD.TO) drifted down 0.8%. Japan's Seven & I Holdings received a revised takeover bid of around $47 billion from the company, compared with $38.5 billion earlier.
Canopy Growth Corporation (WEED.TO) announced that Canopy USA has completed its acquisition of Wana. Canopy USA now owns 100% of Wana, including Wana Wellness, The CIMA Group, and Mountain High Products. The stock ended down 0.7%.
