Toronto stock mar­ket closes higher

Cape Breton Post - - BUSINESS -

TORONTO — The Toronto Stock Ex­change rose for a sec­ond day, pushed higher by strength in the energy sec­tor and a ris­ing price for oil. The S&P/TSX com­pos­ite in­dex rose 224.44 points to close at 14,301.80. In the U.S., the Dow Jones in­dus­trial av­er­age climbed 121.12 points to close at 17,751.39, while the Nas­daq gained 22.52 points to 5,111.73 and the S&P 500 gained 15.32 points at 2,108.57. Craig Fehr, Cana­dian mar­ket strate­gist at Ed­ward Jones in St. Louis, said global stock mar­kets are back to nor­mal af­ter a pe­riod of in­sta­bil­ity fed by volatil­ity in the Chi­nese stock mar­ket. The Chi­nese gov­ern­ment has stepped in with mea­sures aimed at prop­ping up its eq­uity mar­kets as the Shang­hai com­pos­ite in­dex has slid, most re­cently los­ing more than eight per cent of its value in Mon­day trad­ing. China’s se­cu­ri­ties reg­u­la­tor said it would do even more to sup­port the mar­ket af­ter Mon­day’s fall, and Fehr said the volatil­ity doesn’t nec­es­sar­ily in­di­cate that China’s econ­omy is fal­ter­ing.

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