Geopolitical worries send crude oil prices surging
Published Thursday, July 19, 2012 4:44PM EDT
TORONTO - The Toronto stock market closed higher as commodity prices picked up on hopes that central bankers are ready to help with stimulus in the future.
The S&P/TSX composite index ran up 86.54 points to 11,665.7, while the Canadian dollar was up 0.29 of a cent to 99.23 cents US.
Gains on U.S. markets were limited after data showed sales of existing homes in June fell by 5.4 per cent to a seasonally adjusted annual rate of 4.37 million, much lower than the 4.65 million that was expected.
The Dow Jones industrials gained 34.66 points to 12,943.36.
The Nasdaq composite index was ahead 23.3 points to 2,965.9 while the S&P 500 index rose 3.73 points to 1,376.51.
Oil closed up $2.79 to US$92.66, its highest level since mid-May.