British Central Bank Decision to Leave Interest Rates Unchanged Makes Candian Dollar Rise

The Canadian stock market continued to climb Friday amidst strong continental growth. The S&P/TSX and the Canadian dollar both edged up in early trading, as did the Nasdaq composite index and the Dow Jones industrial average. The growth follows a strong Thursday that saw the TSX climb 341 points and the Dow jump 424 points after three weeks of heavy losses.

The S&P/TSX composite index climbed 15.18 points to 14,508.98, while the Canadian dollar climbed 0.28 of a cent to 77.29 cents U.S.

The Dow Jones industrial average gained 117.92 points at 18,490.04, while the broader S&P 500 climbed 11.62 points to 2,164.05.

The Nasdaq composite increased 27.70 points at 5,033.43.

The rise in North American markets followed gains in markets in Europe and Asia. The weaker U.S. dollar has raised commodities prices and brightened prospects for commodities exporters around the world today.

The signing of the TPP, which could open new markets, including Japan, for North American goods, made stock traders ebullient.

The TSX was up 212 points or 1.6 per cent at 13,552 at the close of trading.

There are reports Monday the company is in talks with potential buyers for its Canadian agricultural business, Viterra, boosting hopes among traders that it would lower its high corporate debt.

Stocks, oil and the Canadian dollar all climbed, as the weekend failure of oil producers to bolster crude prices faded.


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