News

Toronto stock index up on surging oil prices, Wall St. down on North Korea warnings

TORONTO _ Rallying energy stocks helped lift the Toronto stock index higher today as U.S stock indices fell amid the latest North Korea comments.

The S&P/TSX composite index was up 62.00 points to 15,516.23, as the November crude contract soared $1.56 to US$52.22 per barrel for the first time since mid-April.

In New York, a tech sell-off overshadowed gains for energy as investors absorbed remarks made by North Korea’s foreign minister regarding President Donald Trump’s weekend tweet that leader Kim Jong Un may not be “around much longer” was a declaration of war.

The Dow Jones industrial average lost 53.50 points to 22,296.09. The S&P 500 index edged down 5.56 points to 2,496.66 and the Nasdaq composite index declined 56.33 points to 6,370.59.

The Canadian dollar was trading at an average price of 81.03 cents US, down 0.16 of a cent.

Elsewhere in commodities, the December gold contract spiked $14.00 to US$1,311.50 an ounce.

The November natural gas contract was down three cents to US$2.99 per mmBTU and the December copper contract was unchanged at US$2.94 a pound.