Higher price for oil helps boost Toronto energy sector, loonie climbs

The Canadian Press</span>
Published Friday, June 29, 2018 5:52AM EDT
Last Updated Friday, June 29, 2018 11:29AM EDT

TORONTO -- Canada's main stock index posted a triple-digit gain at late-morning as a rising price for oil helped boost the energy sector, while the loonie also moved higher.

The S&P/TSX composite index was up 115.36 points to 16,295.25, after 90 minutes of trading.

In New York, the Dow Jones industrial average was up 274.71 points to 24,490.76. The S&P 500 index was up 25.37 points to 2,741.68 and the Nasdaq composite index was up 66.26 points to 7,569.94.

The Canadian dollar was trading at 76.01 cents US, up from an average value of 75.37 cents US on Thursday following stronger-than-expected Canadian GDP figures for April.

The August crude contract was up 73 cents to US$74.18 per barrel and the August natural gas contract was down two cents to US$2.92 per mmBTU.

The August gold contract was up $1.70 to US$1,252.70 an ounce and the September copper contract was unchanged at US$2.97 a pound.

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