TORONTO _ Energy and mining stocks propelled Canada’s main stock index to a record high today on the strength of spiking commodity prices.
The S&P/TSX composite index was up 72.04 points to 16,092.20 in a broad-based advance led by several major sectors.
Shares of oil and gas stocks surged more than 2.5 per cent as the December crude contract soared US$1.71 to US$57.35 per barrel. It’s the first time since mid-2015 that the price of oil has cracked the US$57 mark.
Meanwhile, the gold sector rose more than 1.6 per cent, with the December bullion contract up US$12.40 to US$1,281.60 an ounce.
In New York, it was another quiet but positive day as stock indices closed at all-time highs on Wall Street.
The Dow Jones industrial average was up 9.23 points to 23,548.42, the S&P 500 index eked out 3.29 points to 2,591.13 and the Nasdaq composite index advanced 22.00 points to 6,786.44.
The Canadian dollar was trading at an average price of 78.46 cents US, up 0.11 of a U.S. cent.
Elsewhere in commodities, the December natural gas contract climbed 15 cents to US$3.13 per mmBTU and the December copper contract added four cents at US$3.16 a pound.