The markets today

TORONTO (CP) — Canada’s main stock index finished on a near flat note Thursday, as U.S. stock markets were closed for their Thanksgiving holiday. The S&P/TSX composite index scraped out 0.72 of a point to advance to 16,074.30. Earlier in the day, the materials and energy sectors had helped push the Toronto market up modestly, as the health-care and consumer staples groups lost ground. “The positive performance this morning was the result of the resource sector. Both energy and materials were stronger on the day,” said Candice Bangsund, vice-president and portfolio manager at Fiera Capital. “In energy markets we’re seeing encouraging signs toward the rebalancing of the crude market. So we saw energy prices soar to a two-year high this week after a report that indicated a decline in U.S. stockpiles, while there’s also been a disruption in the Keystone pipeline that has helped to sort of boost that optimism that the market is going to find a better balance.” In currency markets, the Canadian dollar was trading at an average price of 78.65 cents US, up 0.09 of a U.S. cent. That marked the loonie’s third straight day of gains. Key drivers of the currency’s recent upswing are the weakening U.S. dollar and bullishness around the price of oil, which rose $1.19 at the closing of markets Wednesday. Commodities markets were also closed for the U.S. Thanksgiving holiday on Thursday.