Energy stocks help lift S&P/TSX composite higher as oil prices rise

TORONTO –

Canada’s most important inventory index was up practically 100 factors in late-morning buying and selling, helped increased by power in power shares after Saudi Arabia and different main oil producers introduced shock cuts on the weekend.

The S&P/TSX composite index was up 95.68 factors at 20,195.57.

In New York, the Dow Jones industrial common was up 174.87 factors at 33,449.02. The S&P 500 index was down 5.19 factors at 4,104.12, whereas the Nasdaq composite was down 109.24 factors at 12,112.67.

The Canadian greenback traded for 74.30 cents US in contrast with 73.89 cents US on Friday.

The May crude contract was up US$4.07 at US$79.74 per barrel and the May pure gasoline contract was down 13 cents at US$2.09 per mmBTU.

The June gold contract was up US$16.40 at US$2,002.60 an oz and the May copper contract was down 4 cents at US$4.06 a pound.

This report by The Canadian Press was first revealed April 3, 2023