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TSX ticks greater on upbeat results, renewed rate cut bets

Canada's main stock index moved higher on Thursday on improved rate cut bets after softerthanexpected U.S. inflation data, while shares of luxury garments group Canada Goose surged on fourthquarter results beat.

At 10:21 a.m. ET (14:21 GMT), the Toronto Stock market's. S&P/ TSX composite index was up 31.79 points, or 0.14%,. at 22,316.55.

Canada Goose rose to the top of the index,. including 19.7%, as the high-end clothing group beat Wall Street. price quotes for fourth-quarter results, riding on a recovery in. North America and consistent demand in China for its expensive puffer. coats.

The more comprehensive customer discretionary index increased. 0.4%.

Rate-sensitive real-estate index advanced 0.5%,. as financiers remained positive after data revealed U.S. customer. rates climbed up less than anticipated in April, increasing bets. among traders that the U.S. Federal Reserve will cut rates in. September.

Investors are seeing the slowing economy and slowing down. inflation; it is most likely to offer the Fed a consent to lower. rates as it appears to want, said Kim Forrest, chief investment. officer at Bokeh Capital Partners.

The products sector, which includes precious and. base metals miners and fertilizer companies, was the top. sectoral decliner with a 0.3% fall, harmed by a slip in gold. rates.

Across the border, the benchmark S&P 500 and tech-heavy. Nasdaq increased marginally, setting fresh all-time highs.

In corporate updates, Lightspeed Commerce acquired. 14.9% as the cloud commerce service provider beat first-quarter. income estimates.

Shares of International Petroleum Corporation. slipped 5.6% to the bottom of TSX after Jefferies devalued the. energy company to Hold from Buy.

(source: Reuters)