TSX Climbs 157 Points at Midday AS Energy, Financials Lead Gains
The TSX surged 157 points at midday, boosted mostly by energy and financial stocks.
Oil prices rose Friday and Action Economics said the climb comes with most crude market pundits expecting this weekend's meeting of key OPEC and other oil producing nations to affirm an effective level of compliance in adhering to agreed supply cuts. This has helped offset Energy Information Administration data showing a draw in U.S. inventories in the latest reporting week.
Energy and financials advanced 1.6% and 1%, respectively. In materials, miners gained 0.3% while metals edged up 0.2%.
Total volume traded so far was 140.3 million shares. Western Potash (WPX.TO) was the most actively traded stock.
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