CLOSING BELL: Bank shares help boost TSX into triple-digit gain
Canada’s main stock market got a big boost day, with financials leading the way.
Bank shares saw a lot of action, with more gains across the TSX’s main sectors as well. Investors were buying bank shares a day after Canada’s central bank announced a rate increase yesterday. Slightly higher oil helped push the energy sector up as well, and with financials and energy making up more than half of the weight of the TSX combined it closed the day at 16,567, up 150 points. Hydro One shares took a tumble though, losing more than three per cent, as investors reacted to the ousting of the company’s board and CEO.
On Wall Street, technology and industrial stocks led a strong day, with the Dow Jones finishing 224 points higher at 24,924. At press time oil is down seven cents to $70.31 U.S. per barrel, gold is up $2.70 to $1,247.10 an ounce, and the loonie is up more than a third of a cent to 75.98 cents U.S.