TORONTO — Canada’s main stock index is set to extend its rebound over the coming months as well as in 2021, but will fall short of previous expectations as the global economy struggles to fully recover from the coronavirus crisis, a Reuters poll found.
The commodity-linked S&P/TSX Composite index has rallied about 35 per cent since plunging in March to a more than eight-year low, supported by steps to reopen the world economy and a rally in oil prices after U.S. crude hit a record low.
The median forecast in a survey of 25 portfolio managers and strategists was for the TSX to rise 2.9 per cent to 15,590 by the end of 2020 from a closing level of 15,148.12 on Tuesday. In February, when the index notched a record high at 17,970.51, the forecast was 18,175.
The TSX is then expected to climb further to 17,000 by the end