Energy sector leads S&P/TSX composite higher as oil tops US$70 a barrel

TORONTO —
Gains in the energy sector as the price of oil topped US$70 a barrel helped Canada’s main stock index rise in late-morning trading, while U.S. stock markets also climbed higher.

The S&P/TSX composite index was up 84.36 points at 20,773.94.

In New York, the Dow Jones industrial average was up 149.97 points at 35,462.50. The S&P 500 index was up 17.11 points at 4,541.20, while the Nasdaq composite was up 62.91 points at 15,372.29.

The Canadian dollar traded for 79.61 cents US compared with 79.32 cents US on Wednesday.

The October crude oil contract was up US$1.70 at US$70.29 per barrel and the October natural gas contract was up nine cents at US$4.70 per mmBTU.

The December gold contract was down US$1.10 at US$1,814.90 an ounce and the December copper contract was up two cents at US$4.30 a pound.

This report by The Canadian Press was first published Sept. 2, 2021