CANADA STOCKS-TSX rises as financials, real estate lead gains after BoC holds rates

Cogeco Communications
Calamos Global Total Return Fund
TRX Gold
Brookfield Asset Management Inc
Brookfield Asset Management Ltd. Class A

Cogeco Communications

CCA

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Calamos Global Total Return Fund

CGO

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TRX Gold

TRX

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Brookfield Asset Management Inc

BN

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Brookfield Asset Management Ltd. Class A

BAM

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Financial, real estate stocks climb

Bank of Canada holds rates, cuts 2026 growth forecast

Aegis Brands appoints Sean Murphy as CEO

By Sudeshna Ghoshal

- Canada's main stock index opened higher on Wednesday, helped by financial and real estate stocks, while the Bank of Canada left interest rates unchanged as widely expected.

The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE climbed 0.3% by 11:00 a.m. ET.

  • The central bank also slashed its growth forecast for 2026, partly reflecting weaker government spending, while forecasting slightly stronger economic growth in 2027 and 2028.

  • "As long as this war continues and oil prices continue to go higher and above $80 a barrel, there will be more pressure on the upside for inflation ... and that could probably keep the Bank of Canada from holding (rates) and then eventually next year they may have to start hiking," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James.

  • The rate-sensitive financials index, which has gained over 23% this year, was up 0.6%.

  • EQB EQB.TO, Brookfield Asset Management BAM.TO and Brookfield Corporation BN.TO led gains in the sector, rising 1.5% to 2.8%.

  • Real estate shares .GSPTTRE advanced 0.7%, with Colliers International Group CIGI.TO and FirstService Corporation FSV.TO leading the gains.

  • Consumer discretionary .GSPTTCD and consumer staples .GSPTTCS were also up 1.4% and 0.2% respectively.

  • Meanwhile, the materials sector, which includes metal miners, traded in the red as gold prices slipped. GOL/

  • In company news, Cannara Biotech LOVE.TO shares shed 1% after the cannabis producer reported third-quarter results.

  • Streamer Blue Ant Media Corporation's BAMI.TO shares were up 1.2% after the company reported third-quarter results.

  • Separately, Aegis Brands AEG.TO appointed Sean Murphy as president and CEO of the St. Louis Bar & Grill parent.

  • Cogeco Communications CCA.TO and TRX Gold Corp TRX.A are set to report quarterly earnings later in the day.