Gains for the TSX as oil prices help energy sector rise

Gains for the TSX as oil prices help energy sector rise

Gains for the TSX as oil prices help energy sector rise Oil prices have boosted the Toronto Stock Exchange on Monday as concern over record-high Saudi output was mitigated with fewer US oil rigs and data showing a partial draw on US stockpiles. Energy and financials helped offset weakness in other sectors. Around the world news from over the weekend that China had announced further stimulus by cutting the reserve requirements ratio for its banks was viewed positively. It helped Wall Street and Europe gain, although Asian markets were less impressed and major markets there closed with losses.

The S&P/TSX Composite Index closed up 52.05 (0.34 per cent)

The NYSE closed higher

Oil is trending higher (Brent $63.44, WTI $56.34 at 4.40pm)

Gold is trending lower

The loonie is valued at U$0.8177 (at 4.40pm)