Canadian Stocks Rise on Stronger-Than-Expected Manufacturing Data

Canadian equities advanced on February 2, 2026, after new data showed the country’s manufacturing sector expanded at a faster pace in January than economists had forecast. The S&P/TSX Composite Index rose 0.8%, led by gains in materials and industrial stocks. The Ivey Purchasing Managers Index (PMI) climbed to 58.4 in January from 54.1 in December, surpassing the consensus estimate of 55.0. Readings above 50 indicate expansion. Analysts noted the uptick reflects resilient domestic demand and improved supply chain conditions, potentially influencing the Bank of Canada’s near-term rate outlook.