The markets today
TORONTO (CP) — Canada’s main stock index climbed higher Thursday, helped by the energy sector, which benefited from higher oil prices. The S&P/TSX composite index was up 45.91 points to 15,172.72. Revised upward global oil demand forecasts by the International Energy Agency helped to push up crude prices, says Kathryn Del Greco, an adviser with TD Wealth. “The market is continuing on the strength of the increase of the IEA on what is expected to be an increase of global demand and tightening in oil production by some of the producers,” said Del Greco. “Activity in crude is up.” The October crude contract rose 59 cents at US$49.89 per barrel, a six-week high. South of the border, stocks ended mixed and relatively flat on Wall Street, but a meagre gain for the Dow Jones industrial average was enough to mark another record.The Dow closed at 22,203.48, up 45.30 points. Meanwhile, the S&P 500 index gave back 2.75 points to 2,495.62 and the Nasdaq composite index declined 31.11 points to 6,429.08. Rising U.S. consumer prices, which expanded 0.4 per cent in August as gas and housing costs grew, likely played a part in the modest movements, said Del Greco. Elsewhere in commodities, the December gold contract climbed $1.30 at US$1,329.30 an ounce. The October natural gas contract added one cent to US$3.07 per mmBTU and the December copper contract was down two cents to US$2.96 a pound.