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Energy sector helps boost stocks in Toronto as oil prices move higher

The Toronto Stock Exchange Broadcast Centre is shown in Toronto on Friday June 28, 2013. THE CANADIAN PRESS/Aaron Vincent Elkaim

TORONTO — Strength in the energy sector helped Canada’s main stock index gain ground in late-morning trading as the price of oil also moved higher.

The S&P/TSX composite index was up 24.11 points at 16,569.32.

In New York, the Dow Jones industrial average was up 35.92 points at 26,819.41. The S&P 500 index was up 5.68 points at 2,985.31, while the Nasdaq composite was up 20.05 points at 8,161.78.

The Canadian dollar traded for 76.24 cents US compared with an average of 76.18 cents US on Tuesday.

The August crude contract was up US$1.60 at US$59.43 per barrel and the August natural gas contract was up 4.6 cents at US$2.47 per mmBTU.

The August gold contract was up US$6.40 at US$1,406.90 an ounce and the September copper contract was up 5.25 cents at US$2.68 a pound.

 

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

 

The Canadian Press