Aecon takeover deal helps Toronto stock market higher, loonie slips

The Canadian Press</span>
Published Thursday, October 26, 2017 1:13AM EDT
Last Updated Thursday, October 26, 2017 11:27AM EDT

TORONTO -- Canada's main stock index gained ground in late-morning trading led by the industrial sector which pushed higher on news of a takeover deal for Aecon Group Inc.

Shares of the construction company gained more than 15 per cent after it announced that it has signed a deal to be acquired by a Chinese firm.

The S&P/TSX composite index was up 43.13 points to 15,897.90, after 90 minutes of trading.

In New York, the Dow Jones industrial average was up 112.27 points to 23,441.73. The S&P 500 index was up 8.43 points to 2,565.58 and the Nasdaq composite index was up 14.30 points to 6,578.19.

The Canadian dollar was trading at 77.96 cents US, down from an average price of 78.30 cents US on Wednesday.

The December crude contract was down three cents to US$52.15 per barrel and the December natural gas contract was down three cents to US$3.05 per mmBTU.

The December gold contract was down US$3.80 to US$1,275.20 an ounce and the December copper contract was down one cent to US$3.17 a pound.

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