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Energy sector pushes TSX higher after Alberta says it will cut production


TORONTO – Canada’s main stock index was up in late-morning trading after Alberta’s announcement that it will impose oil production cuts on the sector helped lift the market.

The S&P/TSX composite index was up 25.10 points at 15,222.92.

In New York, the Dow Jones industrial average was up 218.34 points at 25,756.80. The S&P 500 index was up 22.59 points at 2,782.76, while the Nasdaq composite was up 94.31 points at 7,424.85.

The Canadian dollar traded for 75.85 cents US compared with an average of 75.18 cents US on Friday.

The January crude contract was up US$1.63 at US$52.56 per barrel and the January natural gas contract was down 24.6 cents at US$4.37 per mmBTU.

The February gold contract was up US$11.90 at US$1,237.90 an ounce and the March copper contract was up 4.15 cents at US$2.83 a pound.

Copyright (c) 2018 The Canadian Press