The Toronto Stock Exchange was both boosted and weakened by the energy sector today as oil continued to edge lower while the Talisman deal with Spanish firm Repsol was confirmed. Despite the price of Brent crude tumbling to around US $55 the energy sector climbed almost 4 per cent; the highest since 2011; and 8 out of the 10 sectors were higher. Talisman’s deal with Repsol will see the Spanish giant pay $8.3 billion and take on debts with the total deal valued at around $13 billion. Talisman’s shares soared 47 per cent on the confirmation. Nervous investors have given a boast to gold producers today too as safe havens rallied.
The S&P TSX Composite Index closed up 156.38 (1.14 per cent)
The NYSE closed lower
Oil is trending up
Gold is trending up
The loonie is down against the US dollar