The close: Canada’s stock market rallies for a second week as crude hits two-month high [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
The close: Canada’s stock market rallies for a second week as crude hits two-month high Canada’s main stock index rallied for a second week as the price of crude rose to its highest level in nearly two months. The S&P/TSX composite index closed up 92.61 points, or .6 per cent, at 15,33.83. The energy sector rose .75 per cent as oil prices rose about 3 per cent. Suncor gained 2.3 per cent, Encana was up 1.5 per cent and Cenovus Energy gained nearly 1 per cent. Story continues below advertisement Oil prices jumped about 3 per cent on Friday, rising after OPEC detailed specifics on its production-cut activity to ease global oversupply, and on signs of progress in ending the U.S.-China trade war. Brent crude was up $1.52 to settle at US$62.7 a barrel, or 2.48 per cent. U.S. West Texas Intermediate (WTI) crude futures added $1.73 to settle at US$53.8 a barrel, or 3.32 per cent. The futures benchmarks posted their third straight week of gains, rising about 4 per cent since the close since t
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