Money: Toronto stock market inches higher despite dip in crude and gold prices - PressFrom - Canada
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MoneyToronto stock market inches higher despite dip in crude and gold prices

10:05  11 september  2019
10:05  11 september  2019 Source:   msn.com

Financials help lift index in Toronto to record territory for a second day

Financials help lift index in Toronto to record territory for a second day Financials help lift index in Toronto to record territory for a second day in a row as gains fuelled by the financial sector sent the Toronto market higher. The S&P/TSX composite index was up 92.92 points at 16,736.20 after trading as high as 16,756.11 earlier in the morning. The index had hit an intraday record of 16,696.40 on Thursday. In New York, the Dow Jones industrial average was up 59.53 points at 27,241.98. The S&P 500 index was up 1.93 points at 3,011.50, while the Nasdaq composite was down 5.83 points at 8,188.63. The Canadian dollar traded for 75.

TORONTO - North American stock indexes capped off a strong week with the Dow Jones industrial average and S&P 500 hitting record highs on Friday In Toronto , Canada’s main stock index was up 1.4 per cent for the week despite closing slightly lower Friday even as gold and crude oil prices rose

Toronto market inches higher . By David Friend The Canadian Press. The S&P/TSX composite index gained 21.04 points to 12,391.23, after dipping in and out of negative territory throughout the day. Gold stocks were trading to the downside as bullion prices backed off a seven-month high .

Toronto stock market inches higher despite dip in crude and gold prices© Provided by Canadian Press Enterprises Inc

TORONTO — Canada's main stock index inched higher on gains by key commodities sectors despite a dip in crude and gold prices and selloff in technology stocks.

Oil prices started the day higher but reversed course after U.S. President Donald Trump announced the firing of John Bolton, his national security adviser.

Investors feared the departure of the Iran hawk could result in Trump relaxing waivers or sanctions against the Middle Eastern regime, resulting in increased crude output, said Natalie Taylor, a portfolio manager with CIBC.

"It's interesting that energy stocks have remained in positive territory even despite that," she said in an interview.

Energy sector helps boost stocks in Toronto, U.S. stock markets edge higher

Energy sector helps boost stocks in Toronto, U.S. stock markets edge higher TORONTO — The energy sector led Canada's main stock index as it closed higher along with U.S. markets in a day that saw a lull in trade-war news. Markets rose more out of the absence of news than any clear positive push, said Candice Bangsund, portfolio manager for Fiera Capital. "Nothing really in the way of a catalyst, but it may just be a case of no news being good news, particularly on the equity front." The relatively quieter day, which still saw a major move on the Brexit front, is in contrast to major escalations in the trade dispute between China and the U.S. recently, said Bangsund.

TORONTO - Canada’s main stock index closed marginally higher Thursday as gold prices rose further as a The Toronto exchange opened higher in morning trading but pared the gains and The key energy sector was helped with Cenovus Energy Inc. and Encana Corp. leading as crude oil

Toronto stocks ended a subdued day flat on Thursday as investors and traders began vacating the market for extended holidays. The gold sector, which gained 3.6 percent on Wednesday, slipped as A bad day for commodities also weakened oil stocks as a sharp drop in crude prices took its toll.

The energy sector gained three per cent on the day with shares of Canadian Natural Resources, Husky Energy Inc. and Crescent Point Energy Corp. each climbing by more than 3.3 per cent.

The October crude contract was down 45 cents at US$57.40 per barrel and the October natural gas contract was down half a cent at US$2.58 per mmBTU.

The S&P/TSX composite index closed up 42.25 points at 16,537.34.

Materials was also higher despite gold falling below the US$1,500 an ounce threshold for the first time in more than a month.

The December gold contract was down US$11.90 at US$1,499.20 an ounce and the December copper contract was flat at US$2.63 a pound.

"The 1,500 was a key level and the momentum has really shifted in gold equities as we've reached that level," Taylor said.

North American stock markets higher in late-morning trading, oil gains ground

North American stock markets higher in late-morning trading, oil gains ground North American stock markets higher in late-morning trading, oil gains ground

JPMorgan's surprise billion trading loss prompted a sell-off in financial stocks Friday, but the broader market edged higher as investors decided The index was at its highest level since January 2008. Oil prices fell 41 cents to .67 per barrel. Gold prices fell 0.6 percent to ,585.60 per ounce.

Energy and base metal stocks , along with positive earnings reports, pushed the Toronto stock market to a solid advance Wednesday. The energy sector in Toronto rose one per cent even as oil prices headed lower ahead of the latest U.S. inventory data. The December crude oil contract dropped 76

The heavyweight financials sector was higher led by the Bank of Montreal, while the technology sector dropped the most as shares of Shopify Inc. fell 6.2 per cent.

In New York, the Dow Jones industrial average was up 73.92 points at 26,909.43. The S&P 500 index was up 0.96 of a point at 2,979.39, while the Nasdaq composite was down 3.28 points at 8,084.16.

The Canadian dollar traded for an average of 76.03 cents US, compared with an average of 76.02 cents US on Monday.

"It's fairly non-eventful from a news and headline perspective and just a continuation of some of the shifts in momentum that we've seen basically starting the end of August right before the trade were announced," said Taylor.

Companies in this story: (TSX:CNQ, TSX:HSE, TSX:CPG, TSX:SHOP, TSX:BMO, TSX:GSPTSE, TSX:CADUSD=X)

Ross Marowits, The Canadian Press

Oil prices surge after attacks hammer Saudi output.
Oil prices saw a record surge Monday after attacks on two Saudi facilities slashed output in the world's top producer by half, fuelling fresh geopolitical fears as Donald Trump blamed Iran and raised the possibility of a military strike on the country. But the strikes raise concerns about the security of supplies from the world's biggest producer. - Energy firms surge - Oil prices had dropped last week after news that Trump had fired his anti-Iran hawkish national security adviser John Bolton, which was seen as paving the way for an easing of tensions in the region.

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