TORONTO – The Toronto stock exchange extended its rally to a seventh consecutive session amid higher commodity prices and a surprising surge in job creation in Canada recently.
The S&P/TSX composite index was up 62.12 points at 15,388.43, while the Canadian dollar rose 0.07 of the U.S. cent to 79.49 cents.
Economists had expected no job growth last month but Statistics Canada said about 29,000 jobs were added, although much of it was part-time work. The one-month increase wasn\’t enough to alter the national unemployment rate, which remained 6.8 per cent.
New York markets were also strong as investors absorbed the latest corporate earnings.
Among those reporting was Whirlpool (NYSE:GE), which soared almost 11 percent as the company announced a large stock buyback and said hello would sell most of its financial services arm and concentrate on its industrial businesses.
The Dow Jones industrial average rose 98.92 suggests 18,057.65, the Nasdaq advanced 21.41 suggests 4,995.98 and also the S&P 500 was up 10.88 points at 2102.06′
On the commodity markets, the May crude contract closed 85 cents at US$51.64, while June gold rebounded from the three-day string of losses to increase $11 to US$1,204.60 an ounce.
The Canadian Press