Gold, en­ergy stocks boost Toronto stock in­dex, Cana­dian dol­lar higher

Cape Breton Post - - Business -

TORONTO — Re­source stocks ac­counted for the ma­jor­ity of gains on the Toronto stock in­dex to­day as the lat­est fig­ures from the U.S. showed an un­ex­pect­edly large draw­down last week in crude stocks. The S&P/TSX com­pos­ite in­dex was ahead 64.01 points to 15,633.21, with en­ergy, gold and ma­te­ri­als stocks lead­ing ad­vancers.

The U.S. En­ergy In­for­ma­tion Ad­min­is­tra­tion says crude oil stocks fell by 5.2 mil­lion bar­rels last week _ a bigger de­cline than ex­pected and a sig­nal that de­mand may pick up. Oil prices ral­lied on the news, with the June crude con­tract jump­ing $1.45 at US$47.33 per bar­rel, while the June nat­u­ral gas con­tract was up seven cents at US$3.29 per mmBTU. The Cana­dian dol­lar was ahead 0.30 of a U.S. cent to an av­er­age value of 73.14 cents US.

In other com­modi­ties, the June gold con­tract ad­vanced $2.80 at US$1,218.90 an ounce and the July cop­per con­tract was un­changed at US$2.49 a pound.

In New York, the Dow Jones in­dus­trial av­er­age lost 32.67 points to 20,943.11. The S&P 500 in­dex gained 2.71 points to 2,399.63 and the Nasdaq com­pos­ite in­dex added 8.55 points to 6,129.14 _ record highs for both in­dices.

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