OTTAWA: Canadian stocks touched a record, joining a global rally in stocks amid expectations of stronger global growth as U.S. President Donald Trump tries to shift the U.S. economy into higher gear. The S&P/TSX Composite Index closed up 0.2 percent to 15,643.84 at 4 p.m. in Toronto on Wednesday, after reaching an intraday record of 15,674.3 which topped the closing record of 15,657.63 set on Sept. 3, 2014. The intraday record is 15,685.13 points. The Canadian benchmark surged 18 percent last year, tops among the world’s developed markets, and has added 2.3 percent this year. The Canadian stocks rally follows the Dow Jones Industrial Average surge past 20,000 for the first time, with investors counting on a Trump administration to usher in lower taxes and boost spending on infrastructure, stimulating the U.S. economy. Trump’s moves on Tuesday to advance construction of TransCanada Corp.’s Keystone XL pipeline from Alberta’s oil sands to the U.S. Gulf Coast has given added vigor to energy stocks.
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