All TSX sectors were positive save for some weakness in the consumer staples group. Lift was supplied in part by a 1.63 per cent rise in the consumer discretionary sector, led by gains in auto parts companies following the release of strong U.S. auto sales data on Tuesday. Magna International (TSX:MG) gained $2.42 or 6.05 per cent to $42.43 and Martinrea International (TSX:MRE) was up 27 cents at $8.53.
Financials also advanced with Royal Bank (TSX:RY) ahead 63 cents to $53.72 and Scotiabank (TSX:BNS) up 51 cents at $53.84.
The TSX has surged about 579 points or 5.1 per cent over the past six sessions to a fresh two-month high amid growing expectations that policy-makers will use fiscal and monetary stimulus to bolster flagging growth.
The European Central Bank and the Bank of England are scheduled to meet Thursday. Analysts are expecting the ECB to cut its key rate by up to half a percentage point and the U.K. central bank to boost the amount of money in circulation.
"It wouldn;t surprise me much because there aren't any statistics talking about how strong the economy is anywhere in the world and inflation is much lower than expected," said Ian Nakamoto, director of research at MacDougall, MacDougall and MacTier.
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