The Toronto stock market was higher on the last trading day of the year as lawmakers in Washington pushed for a last-minute agreement to head off tax hikes and spending cuts due to kick in January 1.
U.S. President Barack Obama said a budget deal was within sight, although not done.
The S&P/TSX Composite Index was up 72 points to 12,388, just off session highs of 12,401.
The materials sector led gainers with a 1.7% rise as gold stocks advanced.
Heavily traded Penn West Petroleum (PWT.TO) added 1% while Cline Mining (CMK.TO) fell 7%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
