Toronto stock index rises with U.S. markets, loonie falls on poor jobs report

TORONTO — Canada’s main stock index was up almost one per cent in late-morning trading to shrug off a poor jobs report and rise with American markets that were boosted by more positive U.S. employment numbers.

The S&P/TSX composite index was up 159.34 points at 17,014.26, led by the energy sector.

In New York, the Dow Jones industrial average was up 309.43 points at 27,987.22. The S&P 500 index was up 29.72 points at 3,147.15, while the Nasdaq composite was up 81.18 at 8,651.89.

The Canadian dollar traded at 75.39 cents US, down from an average of 75.91 cents US on Thursday, after Statistics Canada said the economy lost 71,200 jobs in November for the biggest drop since the financial crisis. The job loss pushed the unemployment rate up 0.4 of a percentage point to 5.9 per cent.

The January crude oil contract was up 38 cents at US$58.81 per barrel and the January natural gas contract was down 3.3 cents at $2.394 per mmBTU.

The February gold contract was down $17.40 at US$1,465.70 an ounce and the March copper contract was up five cents at US$2.71 a pound.

This report by The Canadian Press was first published Dec. 6, 2019.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press