Markets

TSX at 2pm: TSX Rises on Hopes for Last Ditch U.S. Budget Agreement

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%.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More