The Globe and Mail reports in its Friday, Dec. 5, edition that Canada's main stock index hit a record high Thursday, fueled by stronger bank earnings and investor optimism about an improving economic outlook. A Reuters dispatch to The Globe reports that the S&P/TSX Composite index ended up 317.03 points, or 1 per cent, at 31,477.57, eclipsing the record closing high it posted last Friday. Canada's economy has been held back this year by trade uncertainty. Still, it grew much more than expected in the third quarter and could get a lift from increased fiscal spending. Prime Minister Mark Carney has committed billions of dollars to fight U.S. tariffs, boost defence spending and diversify trade. TD, BMO and CIBC topped analyst estimates for fourth quarter profit, boosted by their capital markets businesses that benefited from a rebound in deal-making and higher trading revenue. Shares of CIBC and TD rose 4.1 per cent and two per cent to record highs, while BMO's shares ended 0.1 per cent lower. Energy added 0.3 per cent as the price of oil settled 1.2 per cent higher at $59.67 a barrel.