Canada’s stock market rallies for a second week as crude hits two-month high

Canada’s stock market rallies for a second week as crude hits two-month high
Share this article

TORONTO — Canada’s main stock index rallied for a second week as the price of crude rose to its highest level in nearly two months.

The S&P/TSX composite index closed up 92.61 points to 15,303.83.

In New York, the Dow Jones industrial average rose 336.25 points at 24,706.35. The S&P 500 index was up 34.75 points at 2,670.71, while the Nasdaq composite was up 72.76 points at 7,157.23.

The Canadian dollar traded at an average of 75.41 cents US compared with an average of 75.22 cents US on Thursday following a pick up in the annual inflation rate in December to two per cent, topping expectations for a reading of 1.7 per cent.

The March crude contract was up US$1.68 at US$54.04 per barrel and the February natural gas contract was up 6.9 cents at US$3.48 per mmBTU.

The February gold contract was down US$9.70 at US$1,282.60 an ounce and the March copper contract was up 3.9 cents at US$2.72 a pound.

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

The Canadian Press

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.