TSX rises as energy and financials lead, investors await Fed

Andrew Cummings
September 22, 2017

Six of the 10 most influential gainers on the index came from the energy group, which climbed 1.1 percent.

Financial shares rose 0.3 percent, led by a 2.1 percent advance in the shares of Brookfield Asset Management Inc to 49.35 Canadian dollars (40 USA dollars).

The financials group gained 0.3 per cent, and the industrials sector rose 0.8 per cent.

At 10:13 a.m. ET (1413 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 46.9 points, or 0.31 percent, to 15,339.87, with all 10 of the index's key groups higher.

The materials group, which includes precious and base metals miners as well as fertilizer companies, added 0.8 per cent.

The Canadian dollar fell 0.91 cents to 0.8133 US dollar while oil prices took on one cent a barrel to 49.9 Canadian dollars (40.6 USA dollars) and gold prices fell 13.90 to 1,311.3 US dollars an ounce. Forecasters expect the Fed to leave rates unchanged and stick to plans to raise rates in December.

September futures on the S&P TSX index were up 0.1 per cent at 7:15 a.m. ET.

The S&P 500 index was down 1.01 points to 2,505.64 and the Nasdaq composite index was down 23.70 points to 6,437.62. The broader industrials group rose 1.3 percent. (TO:), which fell 3.80% or 0.13 points to trade at 3.29 at the close.

The index has recouped its summer losses, rebounding 2.7 percent since its trough 1-1/2 weeks ago.

US crude rose 1.78 per cent to $50.36 per barrel and Brent was last at $55.85, up 1.73 percent on the day.

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