TSX up slightly, loonie down in morning trading

The Canadian Press</span>
Published Monday, May 1, 2017 12:13AM EDT
Last Updated Monday, May 1, 2017 11:39AM EDT

TORONTO -- North American stock markets are showing modest advances in late morning trading today.

The Toronto Stock Exchange's S&P/TSX composite index was up 11.97 points to 15,598.10 after 90 minutes of trading.

In New York, the Dow Jones industrial average gained 23.18 points to 20,963.69, the S&P 500 index added 6.29 points to 2,390.49 and the Nasdaq composite index was up 32.37 points to 6,079.98.

The Canadian dollar was trading at 73.22 cents US, slightly weaker from Friday.

The June crude contract was down 67 cents at US$48.66 per barrel and the June natural gas contract was down three cents at US$3.25 per mmBTU.

The June gold contract was down $2.80 at US$1,265.50 an ounce and the July copper contract was up five cents at US$2.66 a pound.

On the TSX, Equitable Group Inc. (TSX:EQB) was up 34 per cent at $48.90 after the mortgage lender arranged up to $2 billion in standby credit from a syndicate of Canadian banks.

In contrast, embattled rival Home Capital Group Inc. (TSX:HCG) was down about 17 per cent, at $6.70, after it said it expects to draw $1 billion from its line of credit with a major Canadian pension fund.

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