Energy helps Toronto market move higher as oil climbs, U.S. stock markets also rise

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TORONTO — The energy sector helped lead Canada’s main stock index higher in early trading as the price of oil surged and U.S. stock markets also climbed.

The S&P/TSX composite index was up 71.97 points at 17,599.74.

In New York, the Dow Jones industrial average was up 106.68 points at 30,330.57. The S&P 500 index was 12.78 points at 3,713.43, while the Nasdaq composite was up 37.63 points at 12,736.08.

The Canadian dollar traded for 78.46 cents US compared with 78.43 cents US on Monday.

The February crude contract was up US$1.30 at US$48.92 per barrel and the February natural gas contract was up 12 cents at US$2.70 per mmBTU.

The February gold contract was up US$6.60 at US$1,953.20 an ounce and the March copper contract was up four cents at US$3.59 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)