Energy shares power TSX to ninth straight day of gains
Make it nine straight winning sessions for Canada’s main stock market.
The heavyweight energy sector led the way as oil prices continued to rise, with crude prices in Europe hitting $80 a barrel for the first time in four years.
Oil prices are going up as worries grow over supply issues that could stem from the United States hitting Iran with sanctions after President Trump backed out of the nuclear deal. The TSX closed the day at 16,143, up 35 points.
On Wall Street the Dow Jones stumbled early, rebounded, and then stumbled again as investors took in earnings reports. The Dow finished 54 points lower at 24,713. CN Railway has been slapped with a $1.1 million fine.
The company pleaded guilty earlier this week to bringing a fuel into Canada that falls below the renewable fuels requirements laid out in the Canadian Environmental Protection Act.
At press time oil is up nine cents to $71.58 cents U.S. per barrel, gold is down $1.20 to $1,290.30 an ounce, and the loonie is down slightly, to 78.12 cents U.S.