Late Rally Takes TSX Back To Black

By Midnight Trader,  June 26, 2012, 04:02:38 PM EDT

Canada's main stock market late in the day just about succeeded in its bid to get back above the 11,330 level it closed at Monday and briefly breached in the early minutes of Tuesday's session - at least in part on bargain buying after recent strong sell offs.

In the hours between the open and close the Toronto Stock Exchange slumped all the way down to the 11,250 level as investors fretted ahead of this week's European Union summit - which isn't expected to come up with any real solutions to Europe's debt crisis - and gold lost some of its shine as investors moved to the U.S. dollar as a safe haven.

Mirroring the overall market, crude oil for August delivery on the New York Mercantile Exchange closed up 15 cents, or 0.2%, at US$79.36, rallying into the close after being in the red for most of the futures trading session. Natural gas also rose into the close, ending up 2.7% at $2.77 per million British thermal units.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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