Stocks in Toronto higher, inflation report helps boost Canadian dollar

TORONTO -- The materials sector helped Canada's main stock index push higher in late-morning trading, while the loonie climbed higher after a stronger-than-expected reading of inflation.

The S&P/TSX composite index was up 52.87 points at 16,278.52.

In New York, the Dow Jones industrial average was up 7.89 points at 25,566.62. The S&P 500 index was down 3.27 points at 2,837.42, while the Nasdaq composite was down 45.60 points at 7,760.93.

The Canadian dollar traded up at 76.38 cents US compared with an average of 76.03 on Thursday after Statistics Canada reported the annual inflation rate hit 3.0 per cent in July, its highest level since September 2011.

The October crude contract was up 33 cents at US$65.21 per barrel and the September natural gas contract was up 4.5 cents at US$2.95 per mmBTU.

The December gold contract was up US$2.10 at US$1,186.10 an ounce and the September copper contract was up 1.8 cents at US$2.63 a pound.

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