S&P/TSX composite edges higher, U.S. markets mixed
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A sign board displays the TSX close in Toronto, Friday, June 4, 2021. THE CANADIAN PRESS/Frank Gunn
TORONTO – Canada’s main stock index edged higher Thursday on gains from consumer staples and metals as investors made defensive moves ahead of a possible pullback.
Beneath the relatively flat market were big defensive moves toward pipelines, precious metals like gold and other safety assets such as 10-year bonds, along with large cap stocks, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc.
“The broader index isn’t doing a lot at the headline level, so the TSX is basically flat … yet underneath the surface, there continues to be still a lot of volatility from sector to sector,” he said in an interview.
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