Wednesday, October 22nd12.9°C
23840
22952

TSX takes cue from Egypt

The Toronto stock market started the session higher Thursday on broad gains across most major sectors as tension over Egypt's political strife subsides.

The S&P/TSX composite index moved up 44.30 points to 12,189.98 shortly after open.

The Canadian dollar rose 0.11 of a cent to 95.26 cents US.

U.S. markets are closed for the Independence Day holiday, which will put most attention on developments overseas.

In Egypt, the country's first democratically elected president, Mohammed Morsi, has been removed from office by the armed forces.

Meanwhile, in Portugal, the governing coalition continues to look shaky, a situation that earlier this week raised the spectre of Europe's debt crisis returning to a boil.

Investors around the world were also keeping a close watch on the price of oil, which eased slightly but remains above US$100 a barrel for the first time since May 2012. The August crude contract on the New York Mercantile Exchange was down 17 cents to US$101.07 a barrel.

Egypt is not an oil producer but its control of the Suez canal -- one of the world's busiest shipping lanes, which links the Mediterranean with the Red Sea -- gives it a crucial role in maintaining global energy supplies.

Meanwhile, August gold bullion dropped $4.30 to US$1,247.60 an ounce on the Nymex.

The Canadian Press


Read more Business News

23434


Recent Trending




Today's Market
S&P TSX14448.80-98.91
S&P CDNX819.63-2.65
DJIA16652.0737.26
Nasdaq4435.342+15.863
S&P 5001948.94+7.66
CDN Dollar0.8919+0.001
Gold1244.00-7.70
Oil81.35-0.61
Lumber329.50-0.10
Natural Gas3.68-0.031

 
Okanagan Companies
Pacific Safety0.12+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.16-0.01
Cantex0.055-0.025
Anavex Life Sciences0.192+0.001
Metalex Ventures0.05+0.005
Russel Metals32.68-0.41
Copper Mountain Mining2.07-0.10
Colorado Resources0.145-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.060.00
Mission Ready Services0.460.00

 



23825

FEATURED Property
1806259346 Lochview Road, Kelowna, BC
10083836 bedrooms
$2,300,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


22771