Futures rise as crude oil gains

Sep 22, 2016, 00:29
Futures rise as crude oil gains

The Toronto stock market rose Monday, supported by a rally in oil prices, while its NY counterparts were in a wait-and-see mood ahead of this week's highly-anticipated U.S. Federal Reserve meeting.

The Canadian dollar was also higher, rising 0.11 of a USA cent to 75.82 cents United States in foreign exchange trading.

The Toronto Stock Exchange's S&P/TSX composite index ended up 188.84 points, or 1.30 percent, at 14,710.82, its highest finish since September 8.

Royal Bank of Canada advanced 0.2 per cent to $80.88 and Bank of Nova Scotia added 0.5 per cent to $70.32.

Suncor Energy Inc. (SU.TO, SU) said that it has been advised by the operator of the Shelburne Basin joint venture exploration project, Shell Canada Limited, that the drilling of the first exploration well has been completed and it is non-commercial.

Canadian National Railway Co gained 1.2 percent to C$84.07, helping the industrials group rise 0.7 percent.

Barrick Gold's Veladero gold mine in Argentine, closed by the government last week after a solution containing cyanide leaked, could resume operations in the next two weeks, the company's president said on Monday.

Its shares rose 0.4 per cent to $22.81.

Though the Fed is not expected to raise rates, Chair Janet Yellen's speech on Wednesday is keenly awaited for any clues about rate changes in the coming months.

The doves in the Fed are most likely to rule over the hawks who support higher rates in the near term, but investors will assess the comments for clues on a likely hike in December. But the contentious issue is when that might happen, when so much depends on whether the data shows the USA economy is strong enough to support it.

The Bank of Japan was also on watch as members meet for a two-day discussion on monetary policy.

Tobira Therapeutics stock vaulted more than 700 per cent after Allergan agreed to buy the drug developer. Tessera's stock was up 2.7 per cent.

On Wall Street, there was little movement as the Dow Jones industrial average faded 3.63 points at 18,120.17, while the broader S&P 500 index dipped 0.04 of a point at 2,139.12.

YOU MIGHT ALSO LIKE

  • 21 killed in strikes on Syrian aid convoy

    Aid was delivered to the besieged town of Talbiseh in Homs province Monday, the Red Cross said, for the first time since July. Following the attack, a senior Obama administration official said of the ceasefire: "We don't know if it can be salvaged".
    England win first game under Sam Allardyce

    England win first game under Sam Allardyce

    They want you to show the way forward and be successful. "We, as a team, have the character and the enthusiasm". He's won everything at Manchester United, more or less, and at Champions League and domestic level.
    NASA, Soyuz MS-02 Postpone ISS Crew Launch Due to 'Technical Reason'

    NASA, Soyuz MS-02 Postpone ISS Crew Launch Due to 'Technical Reason'

    Cosmonaut Alexey Ovchinin, Oleg Skripochka and astronaut Jeffrey Williams were aboard the said rocket that landed in Kazakhstan. This was after the agency cited technical reason with regard to Soyuz MS-02, but no further elaborations were given.
  • Birmingham, Alabama schools locked down as 'clowns threaten children on Facebook'

    Birmingham, Alabama schools locked down as 'clowns threaten children on Facebook'

    Officials have not released information regarding how Smith may be tied to the Facebook page or what charges she might face. Most cases report incidents of clowns trying to lure children into the woods with treats. "There was no threat", Lewis said.
    Clinton says Trump gives 'aid, comfort' to ISIS recruiters

    Clinton says Trump gives 'aid, comfort' to ISIS recruiters

    Clinton urged caution and said it was important not to draw conclusions until there was more information. Meanwhile, Clinton tried to portray Trump as a reckless candidate with no experience fighting terrorism.

    Photo Gallery Of Miss America 2017 (#10 Will Surprise You A Lot)

    During the interview part of the pageant in Atlantic City , the interviewer asked Shields what she thought of Hillary Clinton . She also dreams of a day when she'll be able to take the stage with Beyoncé as a backup dancer, The Associated Press noted .

  • Fresh headache for Corbyn in constituency shake-up

    Mr Corbyn's team reissued the document without the list of MPs and the "misdemeanours" they had been listed for. Some Tory MPs have criticised the proposals being implemented, unless other reforms take place alongside them.

    Angelina Jolie Brad Pitt Divorce Reason: Weed, Alcohol to Blame for Split

    Romper reached out to publicists and attorneys for both Jolie, Pitt, and Aniston, but have yet to hear back. Filming was stopped "because of how he was acting, he wouldn't be ready for shoots, he was late".
    UN alarm as Egypt freezes assets of key rights activists

    UN alarm as Egypt freezes assets of key rights activists

    The UK-based human rights group Amnesty International called the ruling a "shameless ploy" to silence activism. A month later, Abdel Fattah al-Sisi led the military in overthrowing Islamist then President Mohamed Morsi.
  • Gary Johnson And Jill Stein Not Invited To First Presidential Debate

    Gary Johnson And Jill Stein Not Invited To First Presidential Debate

    Gary Johnson , of the Libertarian Party, and Jill Stein , of the Green Party, are receiving some time during the daily news shows. The five journalists moderating the debates are Lester Holt, Elaine Quijano, Martha Raddatz, Anderson Cooper, and Chris Wallace.

    Jeremy Corbyn and Owen Smith in final push for Labour leadership votes

    It is understood Mr Watson's proposal would also allow the leader to retain the option to sack members of the shadow cabinet. He told Murnaghan: "Momentum has been extremely clear all the way through, we are not campaigning for any deselection".

    Pilots eject before military plane crash in California

    The U-2 is a surveillance and reconnaissance plane capable of flying at extremely high altitudes. In 1960, the Soviets downed a U-2 spy plane and captured its pilot, Francis Gary Powers.
popular

Economic growth forecast raised as Brexit vote response hailed
USA growth was heavily revised down after the country slogged through a disappointing first half of the year. Nevertheless, the OECD said growth next year would be "well below" pre-referendum forecasts.

'Space Ghost: Coast To Coast' Voice Actor C Martin Croker Dies 'Space Ghost: Coast To Coast' Voice Actor C Martin Croker Dies
Weird and his assistant Steve on Adult Swim's Aqua Teen Hunger Force, including the 2007 film based on the show. In addition, Space Ghost kickstarted the careers of Adam Reed and Matt Thompson.

Paralympics: Curtain drawn on Rio Games, flag handed to Tokyo
The UAE Paralympic team returned to a hero's welcome after a record-breaking campaign in Rio on Monday. The legendary Maracana stadium hosted the closing ceremony of the XV Paralympic Games.

If Jack Is The Father, Why Is She Marrying Mark? Renée Zellweger's If Jack Is The Father, Why Is She Marrying Mark? Renée Zellweger's
But her co-star Sally Phillips, who plays Bridget's formerly sweary BFF Shazza, has another idea in mind. The pity party's over soon enough though, as she skips the song and boogies instead to "Jump Around".