Toronto stock market advances more than 100 points on commodity prices
The numbers on the TSX board are shown in this August, 2011 file photo. (Aaron Vincent Elkaim / THE CANADIAN PRESS)
Published Wednesday, May 8, 2013 9:48AM EDT
Last Updated Wednesday, May 8, 2013 4:30PM EDT
TORONTO -- The Toronto stock market had its highest close in nearly a month Wednesday boosted by commodity prices reaching levels not seen since early April.
The S&P/TSX composite index moved up 120.94 points to 12,585.05 following strong trade data from China suggesting it is recovering from an unexpected slowing in the first quarter.
The gain on the market came as the June contract for gold bullion surged ahead $24.90 to US$1,473.70 an ounce and the July copper contract was up seven cents at US$3.37 a pound.
Both gold and copper prices were the highest they've been in a month. The June crude contract on the New York Mercantile Exchange was closed at a five-week high, up $1 to $96.62 a barrel. The Canadian dollar was up 0.11 of a cent at 99.67 cents US.
Wall Street climbed on several factors, including signs that the U.S. is gaining momentum in its economic recovery and there's an apparent easing in Europe's debt crisis.
The Dow Jones industrials index edged up 48.92 to 15,105.12, gaining on Tuesday's record-breaking close above 15,000. The Nasdaq was up 16.64 points at 3,413.27 while the S&P 500, advanced 6.73 points to 1,632.69.