Money Energy stocks help lift Toronto market

23:31  10 july  2018
23:31  10 july  2018 Source:   msn.com

Tech and energy help lift Toronto stocks

  Tech and energy help lift Toronto stocks The energy and technology sectors helped lift Canada's main stock index in late-morning trading, while U.S. markets also climbed higher. The S&P/TSX composite index was up 46.43 points to 16,313.04, after 90 minutes of trading.

The energy sector helped lift Canada's main stock index in late-morning trading, while U.S. markets were lower amid rising trade tensions between the U.S. and China.

The energy sector helped Canada's main stock index close higher, while the loonie soared after the latest rate announcement by the Bank of Canada.

  Energy stocks help lift Toronto market © Provided by thecanadianpress.com

TORONTO - Energy stocks helped lift Canada's main stock index to another record close as the price of oil also ticked higher, while the loonie was down a touch ahead of the Bank of Canada's interest rate decision Wednesday.

The S&P/TSX composite index closed up 96.38 points at 16,548.72 to top the record close set a day earlier. In New York, the Dow Jones industrial average ended up 143.07 points at 24,919.66.

The S&P 500 index closed up 9.67 at 2,793.84 and the Nasdaq composite index was up 3 points at 7,759.20.

The Canadian dollar averaged 76.19 cents US, down 0.16 of a US cent.

The August crude contract closed up 26 cents at US$74.11 per barrel and the August natural gas contract was down four cents at US$2.79 per mmBTU.

The August gold contract ended down $4.20 at US$1,255.40 an ounce and the September copper contract was down a penny at US$2.84 a pound.

Trade war holds back Canadian stocks in first half, but tide could be turning .
Despite making little gains so far this year on trade tensions, market strategists are predicting that it won't be difficult for the Canadian stock market to bounce back and outperform in the second half of 2018. Canadian equities started the year down, dragged lower by volatility that rocked U.S. markets in the first quarter. But they have roared back to life in the past three months.

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