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By Special to MoneySense on March 2, 2016
Estimated reading time: 1 minute

TSX closes above 13,000 mark for first time this year

By Special to MoneySense on March 2, 2016
Estimated reading time: 1 minute

But the loonie declined to 74.48 cents US

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TORONTO – The Toronto stock market closed at its highest level this year as it found support from rising metals and gold stocks. The S&P/TSX composite index climbed 35.83 points at 13,017.93. It’s the first time the exchange has closed above the 13,000-mark since Dec. 31. The Canadian dollar declined 0.07 of a U.S. cent to 74.48 cents US. That came as the greenback strengthened against most major currencies amid renewed expectations of a rate hike by the Federal Reserve following encourage signs from the U.S. economy. 4 reasons to love the low loonie » In New York, indexes ended in positive territory after a report from payroll processor ADP that private American employers added a healthy 214,000 jobs in February. The Dow Jones industrial average jumped 34.24 points at 16,899.32, while the Nasdaq composite gained 13.82 points to 4,703.42. The broader S&P 500 added just 8.1 points to 1,986.45. On commodity markets, the April contract for benchmark U.S. crude edged up 26 cents to US$34.66 a barrel, while April gold added $11 to US$1,241.80 a troy ounce. May copper rose four cents to US$2.18 a pound. April natural gas was down six cents at US$1.68 per mmBtu.

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