ADVERTISEMENT

Business

Energy sector helps Toronto market rise as oil prices climb, loonie edges higher

Published: 

Dr. Bogoch on rising subvariant cases Infectious disease specialist Dr. Isaac Bogoch discusses the rise of Omicron subvariants and if there will be another COVID-19 wave soon.

TORONTO — Canada's main stock index edged higher in late-morning trading as the energy sector, which has plunged in recent weeks, regained some of its lost ground as the price of oil moved higher.

The S&P/TSX composite index was up 55.92 points at 11,777.34.

In New York, the Dow Jones industrial average was down 653.23 points at 19,245.69. The S&P 500 index was down 67.63 points at 2,330.47, while the Nasdaq composite was down 108.12 points at 6,881.72.

The Canadian dollar traded for 69.05 cents US compared with an average of 68.98 cents US on Wednesday.

The May crude contract was up US$3.11 at US$23.94 per barrel and the April natural gas contract was up 2.7 cents at US$1.631 per mmBTU.

The April gold contract was up 20 cents at US$1,478.10 an ounce and the May copper contract was up 1.35 cents at US$2.1645 a pound.

This report by The Canadian Press was first published March 19, 2020