The Toronto Stock Exchange benefitted from oil prices today as crude surged 8 per cent on news that US shale producers are cutting back production. Energy stocks rallied, for example Canadian Oil Sands got a 25 per cent boost, and any other day we might have been set for a three-figure gain at close but there was bad news to come with a downgrade for three major banks and weaker-than-expected GDP figures.
The S&P/TSX Composite Index closed up 36.20 (0.25 per cent)
The NYSE closed lower
Oil is trending lower (but was at $47.50 at close)
Gold is trending higher
The loonie is trending higher ($0.7869 at close)