TSX, US markets up as oil hits three-year high; loonie down

Marco Green
May 11, 2018

The S&P/TSX composite index rose 68.10 points to 15,910.81, with shares in the energy sector being among the top three performers of the day.

Six of Canada's 10 main index sectors were on positive grounds.

On the earnings front, Telus Corp.'s quarterly profit came in slightly below analysts' estimates as it spent heavily to add wireless subscribers amid stiff competition.

Athabasca Oil Corp. (TSX:ATH). Up 77 cents, or 1.86 per cent, to $42.25 on 6.7 million shares.

"This is really the biggest event of the day in North America", he said.

Trump announced Tuesday that America would no longer be a party to the Joint Comprehensive Plan of Action, a 2015 agreement between the U.S., Iran and five other countries (plus the European Union) which limited Iran's nuclear weapon-building capabilities and lifted most U.S. and worldwide sanctions against Iran.

The Canadian dollar was trading at 77.74 cents U.S., up from an average value of 77.14 cents USA on Tuesday.

Note to readers: This is a corrected story.

"I view today's number as a slight positive for risk assets in the near term", Winograd said.

MSCI's broad gauge of global equity markets rose 0.82 per cent and turned positive for the year as it hit three-weeks highs. Trump said the US will institute "the highest level of economic sanction" against the country. Retailer. Down $9.50, or 5.42 per cent, to $165.87 on 624,925 shares.

In New York, the Dow Jones industrial average was down 17.73 points to 24,342.48.

The price of oil settled above its daily low of US$67.63 per barrel. It last closed above the US$70 mark on November 26, 2014.

Gold rose on the weaker dollar and as tensions between the United States and Iran also supported the precious metal.

Other reports by Click Lancashire

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