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Energy sector drives Toronto market higher, gold sector down as bullion slips

TORONTO – The Toronto stock market pushed higher, as strength in the energy sector helped offset weakness in the gold sector.

The S&P/TSX composite index gained 52.44 points at 15,104.96 in late-morning trading.

The increase came as the January crude oil contract gained 31 cents at US$51.99 per barrel and the January contract for natural gas climbed 18.7 cents at US$3.623 per mmBtu.

The February gold contract fell US$14.20 to US$1,163.60 per ounce and the March copper contract gained 8.25 cents at US$2.7075 per pound.

In New York, the Dow Jones industrial average rose by 97.64 points at 19,268.06, while the S&P 500 added 16.29 points at 2,208.24.

The Nasdaq composite stepped up 60.54 points at 5,316.19.

The Canadian dollar gained 0.13 of a cent at 75.41 cents US.