Rising oil prices help Toronto stocks start 2019 with a move higher

Rising oil prices help Toronto stocks start 2019 with a move higher
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TORONTO — Rising oil prices helped boost the energy sector as Canada’s main stock index headed higher on the first trading day of the year.

The S&P/TSX composite index was up 24.59 points at 14,347.45.

In New York, the Dow Jones industrial average was down 64.4 points at 23,263.06. The S&P 500 index was down 5.72 points at 2,501.13, while the Nasdaq composite was up 0.75 of a point at 6,636.03.

The Canadian dollar traded for 73.50 cents US compared with an average of 73.30 cents US on Monday to close out 2018.

The February crude contract was up US$1.47 at US$46.88 per barrel and the February natural gas contract was up 3.5 cents at US$2.97 per mmBTU.

The February gold contract was up US$7.30 at US$1,288.60 an ounce and the March copper contract was down 2.20 cents at US$2.61 a pound.

Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press

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