Canada’s main stock index took its share of damage from this week’s global selloff and managed to close just out of positive territory on Wednesday. The recovery attempt was bolstered by a rise in oil and gold prices. However, losses among the top mining, financial and industrials sectors kept the TSX from rallying too far.
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U.S. stocks surged then sunk, stretching Wall Street’s losing streak to four days. Investors still look to recover some of the losses incurred earlier in the week.
The Canadian dollar traded for 72.74 cents U.S. compared with 72.59 cents U.S. on Tuesday.
U.S. crude futures traded $2.25 higher at $75.45 a barrel, and the Brent contract rose $2.06 to $75.54 a barrel.
The price of gold was up US$2.52 to US$2,386.53.
In world markets, the Nikkei was up 414.16 points to 35,089.62, the Hang Seng was up 230.52 points to 16,877.86, the FTSE was up 140.19 points to 8,166.88, and the DAX was up 260.83 points to 17,615.15.
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