TSX Rises Along With Gold Stocks -- Canadian Commentary

(RTTNews) - Canadian stocks rose Wednesday, powered by gains among resource stocks as metals prices recovered.

Markets reacted positively to news from the U.S, as the Federal Reserve is on track to raise interest rates only gradually over the course of the year, according to the minutes of the central bank's most recent meeting.

The TSX Composite Index added 84.57 points to 15,524.01, taking back recent losses. Gold stocks performed particularly well.

On the economic front, Eurozone private sector growth continued to rise at a steep pace in February, albeit with the rate of expansion cooling from the near 12-year high in January, flash data from IHS Markit showed Wednesday. The composite output index dropped to 57.5 from 58.8 in the previous month. The score was forecast to fall to 58.4.

Germany's private sector expanded strongly in February but the pace of growth slowed from a near seven-year high seen in January, flash data from IHS Markit showed Wednesday. The composite output index dropped unexpectedly to a 3-month low of 57.4 from 59.0 in January. The reading was expected to rise to 59.2.