Canada’s main stock index climbed on Thursday, driven by rising crude oil prices, as investors awaited significant U.S. economic data. The energy sector drew attention with oil prices continuing their rebound because of concerns about Hurricane Francine’s potential impact on U.S. production. The mining sector led gains on the TSX while healthcare was the lone decliner.
In the United States, stock performance was solid as investors assessed the producer price index, which increased 0.2 per cent from a month earlier after a flat reading in July, according to the Bureau of Labor Statistics report, on track with analyst expectations.
The Canadian dollar traded for 73.64 cents U.S. compared with 73.69 cents U.S. on Wednesday.
U.S. crude futures traded $1.90 higher at $69.21 a barrel, and the Brent contract rose $1.60 to $72.21 a barrel.
The price of gold was up US$44.84 to US$2,557.12.
In world markets, the Nikkei was up 1,213.50 points to 36,833.27, the Hang Seng was up 131.68 points to 17,240.39, the FTSE was up 47.03 points at 8,240.97, and the DAX was up 177.37 points to 18,507.64.
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(Top image generated with AI)