TSX Ends Moderately as Oil Prices Pull Back From 4-day Rally
Stock markets in Toronto and New York racked up small gains as commodities softened and oil prices pulled back from a four-day rally.
The S&P/TSX composite index increased 30.63 points to 15,125.80, with advances in financial and consumer discretionary stocks.
Bank of Montreal, the last of Canada’s five biggest banks to report, said its profits grew by 11 per cent in the fourth quarter to $1.35 billion. Its shares rose nearly three per cent to $92.06.
On Wall Street, the Dow Jones industrial average climbed 35.54 points to 19,251.78 to a new record, while the S&P 500 added 7.52 points at 2,212.23. The Nasdaq composite rose by 24.11 points at 5,333.
In commodities, the January crude oil contract fell 86 cents to $50.93 (U.S.) per barrel, as investors took a pause from gains following the announcement of an OPEC output deal.
The February gold contract declined $6.40 to $1,170.10 (U.S.) per ounce, while the January contract for natural gas dipped two cents at $3.64 (U.S.) per mmBTU. The March copper contract also dropped, slipping two cents to $2.68 (U.S.) per pound.
The Canadian dollar shed 0.04 of a U.S. cent at 75.28 cents US.