Canada's main stock market, the Toronto Stock Exchange closed 75 points higher with energy (+7.17%) and miners (+2.37%) posting the strongest gains, as investors cheer the third week of positive COVID-19 vaccine news. Despite its gains, the energy sector is still down 31% YTD.
Financials is down 3.9% YTD.
Today, the market heard from AstraZeneca saying their vaccine candidate has an effectiveness rate of "up to 90%", depending on the dosing regime. The vaccine also does not require ultra-cold refrigeration, implying a lower cost of distribution. The Bank of Canada also said it sees no signs of broad stress across the financial system in Canada.