CANADA STOCKS-TSX climbs to record high as investors bet on rosier economic outlook

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TSX ends up 1% at 30,900.65

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Eclipses November 12 record closing high

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Consumer-related shares pace gains

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Energy falls 0.6% as oil settles lower

(Updates at market close)

By Fergal Smith

TORONTO, Nov 25 (Reuters) - Canada's main stock index rose to a record high on Tuesday, led by gains for consumer-related stocks, as investors expected lower interest rates and infrastructure spending to help lift economic growth next year.

The S&P/TSX composite index ended up 296.30 points, or 1%, at 30,900.65, eclipsing the November 12 record closing high.

Wall Street also advanced as a spate of economic data appeared to support the case for the U.S. Federal Reserve to implement its third and final rate cut of the year in December.

"I can understand why the markets are excited," said Barry Schwartz, chief investment officer at Baskin Wealth Management. "We seem to be in a much more calm political environment at the moment ... and now the focus is on infrastructure. Big plans in both Canada and the U.S."

Canadian Prime Minister Mark Carney has committed to invest about C$280 billion over five years in infrastructure as well as on measures to raise productivity and competitiveness. "We're getting the sense that 2026 is setting up to be a terrific year for the North American economy as well as corporate profits," Schwartz said. The consumer staples and consumer discretionary sectors added 2.6% and 2.2% respectively. Shares of convenience store operator Alimentation Couche-Tard (ANCTF) were up 4.9% after the company beat quarterly profit estimates. Financials added 1.1% and industrials ended 1.6% higher. Energy was the only one of 10 major sectors to end lower, losing 0.6%. The price of oil settled 1.5% lower at $57.95 a barrel as Ukraine hinted that an intense diplomatic push by the U.S. administration to end Russia's war against it could be making progress. The TMX Group (TMXXF), which operates the Toronto Stock Exchange, is expecting a big pickup in stock market listings heading into 2026, boosted by a robust pipeline of companies that are aiming to tap the capital markets in the coming months, executives at the firm told Reuters. Shares of TMX were down 0.9%. (Reporting by Fergal Smith in Toronto and Avinash P in Bengaluru; Editing by Sahal Muhammed and Lisa Shumaker)