Business

S&P/TSX composite index touches 10,000

Energy stocks lead TSX composite index briefly above 10,000 points for first time since Oct. 2000

The S&P/TSX composite index on Friday climbed past 10,000 for the first time since October 2000.

In very early trading, the index (TSX:Composite) rose above the psychological mark before pulling back. The index ultimately ended the day down more than 21 points at 9947.57.

The energy sector, driven by high prices for oil, has been a chief factor in the recent advance of the TSX.

But on Friday, despite the future price of oil hitting a record $58.47 US a barrel, the TSX energy sub-index slid 0.44 points to close at 264.26. That's up four per cent from 254.03 a week ago.

Five years ago, technology stocks were the main force behind the index's advance above 10,000.

In New York, the Dow Jones was up more than 44 points at 10623.07, while Nasdaq was up 0.96 points at 2090.11.

The oil price rise was attributed to a fear that U.S. refineries wouldn't be able to meet over the summer, the height of the driving season.

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