TSX Takes Two Days of Gains To Near 150 Pts

By MidnightTrader.com Staff,

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Canada's main stock market, the Toronto Stock Exchange, closed Monday up 65 points. Although this was 40 points off morning highs, it adds to the near 80 points gained Friday. Stock markets have been buoyed by an easing - at least for now - of geopolitical tensions in Ukraine and Gaza. That has seen some equity investors return to the table after leaving it earlier last week to either sit on the sidelines or invest instead in safe haven areas like gold or government debt.

All sectors on the resources heavy TSX, except for the influential Metals & Mining, were higher late in the day.

Of commodities, gold was little changed after an uninspiring, lazy summer session in North America. Bloomberg, meanwhile, reported that brent futures traded near a nine-month low in London today as U.S. air strikes against Islamic State militants in northern Iraq reassured investors that oilfields in the adjacent Kurdish region would stay unaffected. Bloomberg added that hedge funds cut bullish bets on Brent crude to the lowest level in six months last week, another signal that traders expect supplies from Iraq to remain safe from an Islamist insurgency in the north of the OPEC member.

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

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This article appears in: Investing Commodities
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