TSX composite up as telecom sector rises on Rogers takeover deal for Shaw

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TORONTO — Canada’s main stock index climbed higher in early trading as the telecom sector rose following a deal reached by Rogers Communications Inc. to buy Shaw Communications valued at $26 billion.

The S&P/TSX composite index was up 78.47 points at 18,929.79.

In New York, the Dow Jones industrial average was up 130.33 points at 32,908.97. The S&P 500 index was up 4.50 points at 3,947.84, while the Nasdaq composite was up 10.07 points at 13,329.93.

The Canadian dollar traded for 80.13 cents US compared with 80.04 cents US on Friday.

The April crude oil contract was down 87 cents at US$64.74 per barrel and the April natural gas contract was down seven cents at US$2.53 per mmBTU.

The April gold contract was up US$9.10 at US$1,728.90 an ounce and the May copper contract was up less than penny at US$4.14 a pound.