Technology Broad rally helps Toronto market hit new high

03:11  13 july  2018
03:11  13 july  2018 Source:   msn.com

Energy stocks help lift Toronto market

  Energy stocks help lift Toronto market TORONTO - Energy stocks helped lift Canada's main stock index at late morning as the price of oil also ticked higher.  The S&P/TSX composite index closed up 96.38 points at 16,548.72 to top the record close set a day earlier. In New York, the Dow Jones industrial average ended up 143.07 points at 24,919.66.

Broad rally helped boost Toronto stocks, U . S . markets also gain - www.ctvnews.ca. NEW YORK (Reuters) - The Nasdaq hit a record closing high for the second day in a row on Tuesday, helped by tech and consumer discretionary shares, while the euro recovered after Italy' s new prime minister

A broad -based rally helped Canada's largest stock index to post a triple-digit gain in late-morning trading, while U.S. stock markets also pushed higher .

a person holding a sign© Provided by thecanadianpress.com

A broad-based relief rally helped Canada's main stock index close at a record high Thursday after markets retreated globally a day earlier, while U.S. stock markets also pushed higher.

The Toronto Stock Exchange's S&P/TSX composite index closed up 150.10 points or 0.91 per cent at 16,567.42 to top the record high set on Tuesday.

The gains came a day after markets fell following the release by the U.S. of a list of $200 billion in Chinese goods that could be hit by tariffs, against which China promised to retaliate.

"The markets had gotten quite negative over trade tariffs and trade tensions," said Anish Chopra, managing director with Portfolio Management Corp.

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Listed companies are at their most profitable after a bumper year of earnings, bolstering confidence that the recent surge in stock markets is backed by a broad global economic recovery. Earnings per share hit new high , underscoring broad economic recovery.

Trade uncertainty has helped keep various sectors down, but all major indexes on the TSX showed gains Thursday in something of a relief rally, said Chopra.

"We haven't had the TSX up across all sectors in quite a while simply because of the news flow that we've had related to trade and economic growth in countries including Canada."

The S&P/TSX information technology index had the highest gains with a 2.96 per cent climb, while energy, base metals and financials showed gains of under one per cent.

He said the possibility of talks between China and the U.S. at an upcoming G20 meeting could have helped ease tension on the market.

In New York, the Nasdaq composite index closed up 107.30 points or 1.39 per cent at 7,823.92 to also set a record high. The Dow Jones industrial average closed up 224.44 points at 24,924.89 and the S&P 500 index closed up 24.27 points at 2,798.29.

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TORONTO -- A broad -based rally helped Canada's largest stock index to post a triple-digit gain in late-morning trading, while U.S. stock markets also pushed higher . The S&P/TSX composite index was up 119.12 points to 15,628.87, after 90 minutes of trading.

TORONTO — Canada’s main stock index hit a record high in late morning trading Wednesday, boosted by a broad -based rally on the market . The S&P/TSX composite index was up 97.66 points to 16,414.19, after 90 minutes of trading — just off its high of 16,424.82 for the day

The Canadian dollar averaged 75.95 cents US, down 0.09 of a US cent. The loonie had an early boost Wednesday from the widely-expected rate hike from the Bank of Canada but has slipped on stronger U.S. economic data.

The August crude contract closed down five cents at US$70.33 per barrel and the August natural gas contract was down three cents at US$2.80 per mmBTU.

The August gold contract ended up $2.20 at US$1,246.60 an ounce and the September copper contract was up three cents at US$2.78 a pound.

Hydro One Ltd. closed down 65 cents or 3.22 per cent at $19.52 a day after the CEO retired and the board of directors resigned en masse. Ontario Premier Doug Ford had made it a campaign promise to fire CEO Mayo Schmidt over high utility rates.

The utility, partially owned by the province, said a new board of directors will be selected by Aug. 15 and will initially consist of 10 members.

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