TORONTO - The Toronto stock market
registered a solid gain Friday at the end of what is shaping up to be
another week of sharp losses, with base metals stocks particularly
mauled by a plunge in copper prices.
The S&P/TSX composite index jumped 104.2 points to 14,146.02 after five days of losses.
The Canadian dollar fell 0.32 of a cent to 83.26 cents US ahead of next week's interest rate announcement by the Bank of Canada.
New York's Dow Jones industrials climbed 16.02 points to 17,336.73, the Nasdaq rose 12.82 points to 4,583.64 and the S&P 500 index was up 5.02 points to 1,997.69.
The TSX energy sector was ahead 2.35 per cent as oil tries to find support around the US$45 a barrel level.
The stability in oil prices — which is likely temporary — comes after prices plunged almost 40 per cent since the end of November, after the Organization of Petroleum Exporting Countries ruled out cuts in production to support prices. Overall, prices are down about 55 per cent from the highs of June 2014 amid a huge supply/demand imbalance.
Read more Click Here / www.trade4x.net
The S&P/TSX composite index jumped 104.2 points to 14,146.02 after five days of losses.
The Canadian dollar fell 0.32 of a cent to 83.26 cents US ahead of next week's interest rate announcement by the Bank of Canada.
New York's Dow Jones industrials climbed 16.02 points to 17,336.73, the Nasdaq rose 12.82 points to 4,583.64 and the S&P 500 index was up 5.02 points to 1,997.69.
The TSX energy sector was ahead 2.35 per cent as oil tries to find support around the US$45 a barrel level.
The stability in oil prices — which is likely temporary — comes after prices plunged almost 40 per cent since the end of November, after the Organization of Petroleum Exporting Countries ruled out cuts in production to support prices. Overall, prices are down about 55 per cent from the highs of June 2014 amid a huge supply/demand imbalance.
Read more Click Here / www.trade4x.net
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