Energy sector helps lift Toronto, while U.S. stock markets rise; Loonie up

The Canadian Press</span>
Published Wednesday, May 30, 2018 3:16AM EDT
Last Updated Wednesday, May 30, 2018 12:13PM EDT

TORONTO - The energy sector helped lift Canada's main stock index in late-morning trading, while the loonie flew higher after the latest rate announcement by the Bank of Canada.

The Canadian central bank kept its key interest rate on hold at 1.25 per cent, but its comments increased market expectations that it would raise the rate in July. The Canadian dollar was trading at 77.66 cents US, up from an average value of 76.92 cents US on Tuesday.

The S&P/TSX composite index was up 51.68 points to 15,974.29, after 90 minutes of trading.

In New York, the Dow Jones industrial average was up 187.29 points to 24,548.74. The S&P 500 index was up 24.66 points to 2,714.52 and the Nasdaq composite index was up 60.18 points to 7,456.77.

The July crude contract was up US$1.41 to US$68.14 per barrel and the July natural gas contract was down one cent to US$2.89 per mmBTU.

The August gold contract rose US$1.30 to US$1,305.40 an ounce and the July copper contract fell one cent to US$3.05 a pound.

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