Business

Canadian dollar hits 14-month high, TSX lifts on energy-sector gains

Canada's main stock index offset Friday's losses as the key energy sector gains on higher oil prices and fears about a broader Middle Eastern war cause investors to hedge bets by pushing gold to a near seven-year high.

Loonie traded at 77.10 cents US, up from 76.99 cents Friday

The Canadian dollar reached 77.10 cents US Monday, compared with an average of 76.99 cents US on Friday. (Jonathan Hayward/Canadian Press)

Canada's main stock index offset Friday's losses as the key energy sector gains on higher oil prices and fears about a broader Middle Eastern war caused investors to hedge bets by pushing gold to a near seven-year high.

The S&P/TSX composite index closed Monday up 39.35 points at 17,105.47.

In New York, the Dow Jones industrial average was up 68.50 points at 28,703.38. The S&P 500 index was up 11.43 points at 3,246.28, while the Nasdaq composite was up 50.70 points at 9,071.47.

The Canadian dollar traded at a 14-month high of 77.10 cents US compared with an average of 76.99 cents US on Friday.

The February crude contract was up 22 cents at US$63.27 per barrel and the February natural gas contract was up half a cent at $2.13 US per mmBTU.

The February gold contract was up $16.40 at $1,568.80 US an ounce and the March copper contract was up 0.3 of a cent at $2.79 US a pound.

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