TSX May Follow Commodities Higher
Canada's benchmark index looks set for another day in the positive territory, benefiting from the increase in commodity prices. Stock futures for the December quarter on the S&P TSX index were up 0.11% recently.
Oil was higher on Tuesday, with Brent hitting US$50/barrel, on prospects of a cooperation between OPEC and non-OPEC members to help support prices. Russia recently expressed its willingness to meet up with the oil cartel for a discussion about the market. At last check, Brent was up 1.52% at US$50.00/barrel, while the WTI crude rose 0.80% to US$46.63/barrel.
Prices for gold and copper were also firmer. Gold was last up 0.52% at US$1,143.50/ounce, while copper was 0.32% higher at US$2.363/pound.
The TSX gained as much as 212 points at closing on Monday, led higher by energy and material stocks.
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