Broad based rally helps boost stocks in Toronto, loonie moves lower

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TORONTO _ A broad-based rally helped Canada’s main stock index rise sharply today as U.S. stock markets also gained ground amid some recovery in oil prices.

The S&P/TSX composite index advanced 106.90 points to 16,015.68, with all major sectors positive on the day.

In New York, the Dow Jones industrial average was up 70.57 points to 24,211.48. The S&P 500 index added 7.71 points to 2,636.98 and the Nasdaq composite index gained 36.46 points to 6,812.84.

The Canadian dollar closed at an average trading value of 77.86 cents US, down 0.53 of a U.S. cent.

In commodities, the January crude contract climbed 73 cents to US$56.69 per barrel and the January natural gas contract was down 16 cents to US$2.76 per mmBTU.

The February gold contract fell US$13.00 to US$1,253.10 an ounce and the March copper contract was unchanged at US$2.96 a pound.

 

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