REPORT BY TROY LANDREVILLE, VISTA RADIO
Sparked by a hike in oil prices, the energy sector lifted the TSX today.
Reports of declining American crude inventories led to supply concerns, as oil rose $2.04 to $67.88 US a barrel.
Higher oil prices helped the energy sector gain 1.7 percent, which in turn factored into Canada’s stock exchange jumping 50 points to 16,347.
Seven of the TSX’s 11 major sectors finished in positive territory.
In New York, the Dow slipped 88 points with the index weighted by uncertainty over today’s trade talks between the U.S. and China, while the Nasdaq edged 24 points higher.
The loonie continues to make progress on the greenback, up 25/100ths of a cent to $0.7695 cents US.
And gold went up for the third straight day, rising $3.10 to $1,196 an ounce.
Meanwhile, driven by higher interest rates, the Royal Bank of Canada posted a record profit of $3.1 billion in Q3, marking an 11-percent increase from the previous year.
RBC’s stock inched 1.35 percent higher today, to $103.97 a share.