The mar­kets to­day

The Prince George Citizen - - SPORTS -

TORONTO (CP) — It was an es­pe­cially flat day for Canada’s main stock in­dex Friday, with the en­ergy sec­tor among ma­jor de­clin­ers de­spite oil prices con­tin­u­ing to hover around the US$50 mark. The S&P/TSX com­pos­ite in­dex squeaked out 0.31 of a point to ad­vance to 15,173.03, as the Oc­to­ber crude con­tract re­mained un­changed at US$49.89 per bar­rel. “We were hop­ing we’d see a bot­tom in en­ergy stocks and they’d start act­ing bet­ter – that’s what the Cana­dian mar­ket needs be­cause that’s the way the Cana­dian mar­ket is con­structed,” said Nor­man Levine, man­ag­ing di­rec­tor of Portfolio Man­age­ment Corp. “But they’re not be­hav­ing as well as the com­mod­ity.” Levine at­trib­uted some of en­ergy stocks’ woes to the ris­ing loonie and a weak­en­ing green­back – “that’s be­cause they sell en­ergy for the most part in U.S. dol­lars,” he ex­plained. The Cana­dian dol­lar was trad­ing at an av­er­age price of 82.09 US, up 0.11 of a U.S. cent. South of the bor­der, it was an­other day of mea­gre gains and record highs for two of New York’s ma­jor in­dexes. The Dow Jones industrial av­er­age ad­vanced 64.86 points to 22,268.34 on Friday, its fourth straight day of record highs, while the S&P 500 in­dex was up 4.61 points to 2,500.23, its fourth day of reach­ing a new high since Monday. Mean­while, the Nas­daq com­pos­ite in­dex gained 19.39 points to 6,448.47.

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