Canada's main stock market, the Toronto Stock Exchange, closed
up 34 points, but around 55 points off day highs hit late morning -
reflecting mixed fortunes for oil and gold futures.
Boosting the TSX was easily most actively traded Surge Energy
(SGY.TO) which gained more than 8% with near 16 million shares
traded although there was no apparent fresh stock specific news
around. Seven of the 10 most traded stocks ended higher. Sectors
Oil futures surprisingly ended higher today, adding over 1% to
finish just above US$95 a barrel. The move surprised analysts,
after today's disappointing economic data, oil would have been
expected to move lower, which it did, initially, but regrouped as
the session went on.
Gold futures closed down 0.7% today at US$1,386.90 an ounce on
the Comex as weak economic data and a pullback in the dollar failed
to support the metal. While such data points should cause gold
prices to ascend, analysts attributed the relative strength in
equities as reason for the metal's decline as investors chose to
purchase equities, over gold.
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