TSX re­v­erses course with triple-digit gain on jump in oil price

The Guardian (Charlottetown) - - BUSINESS -

TORONTO — The Toronto stock ex­change re­versed course from the pre­vi­ous day’s big loss to post a tripledigit gain Tues­day as zig-zag­ging oil prices rose sharply. The S&P/TSX com­pos­ite in­dex closed up 188.16 points at 12,331.32, fol­low­ing a 246-point de­cline on Mon­day. The heav­ily weighted en­ergy sub­sec­tor rose by more than four per cent as the March con­tract for North Amer­i­can bench­mark crude oil rose $1.11 to set­tle at US$31.45 a bar­rel. The com­mod­ity-sen­si­tive loonie was also a big ben­e­fi­ciary of the jump in oil prices, ris­ing 0.97 of a cent to end trad­ing at 71.05 cents US. The last time the loonie closed above 71 cents US was on Jan. 6 and the cur­rency fell as low as 68.21 cents US last week, ac­cord­ing to Bank of Canada data.

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