TSX moves up as traders hope for rescue of global economy
The TSX broadcast centre is seen in this Toronto file photo. (Aaron Harris/THE CANADIAN PRESS)
Published Friday, August 10, 2012 10:13AM EDT
Last Updated Friday, August 10, 2012 4:35PM EDT
TORONTO - The Toronto stock market ended the session higher as traders focused on concerning data about the Chinese economy, and whether it could lead to broader measures to help boost the global economy.
The S&P/TSX composite index closed up 32.76 points at 11,890.89, ending the week with a gain of about two per cent as a more bullish sentiment began to emerge. The TSX Venture Exchange slipped 2.05 points to 1,191.
Traders have been revisiting worries about the direction of the global economy after a series of economic data out of China showed that the world's second-largest economy is facing a slowdown.
On Wall Street, the Dow Jones industrial average moved up 42.76 points to 13,207.95 and the broader S&P slid 3.07 points to 1,405.87. The Nasdaq lost 2.22 points to 3,020.86.
In commodities, the September crude contract on the New York Mercantile Exchange closed down 49 cents to US$92.87 a barrel. Oil prices ended the week ahead nearly two per cent.
And the Canadian dollar was at 100.91 cents US, up 0.1 of a cent.