It was another session in the green for Canada’s main stock index on Thursday. A rise in commodity prices lifted energy and materials stocks.
Economic data south of the border came out better than expected. Retail sales figures for August were up 0.6 per cent, compared to economist’s predictions of a 0.1 per cent increase. This led many to the conclusion that rate hikes will continue, given that a new inflation reading just released was not as bad as feared.
The Canadian dollar traded for 73.97 cents U.S., compared to 73.76 cents U.S. on Wednesday.
U.S. crude futures traded $1.83 higher at $90.35 a barrel, and the Brent contract added $1.98 to $93.86 a barrel.
The price of gold was up US$0.30 to US$1,909.39.
In world markets, the Nikkei was up 461.58 points to 33,168.10, the Hang Seng was up 38.70 points to 18,047.92, the FTSE was up 147.09 point to 7,673.08, and the DAX was up 151.26 points to 15,805.29.
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