Toronto stock index up in broad advance led by energy as oil prices rise

TORONTO – The Toronto Stock Exchange’s main index advanced nearly 100 points today as Statistics Canada said the nation’s economic growth outpaced expectations in the second quarter.

The S&P/TSX composite index gained 78.74 points to 15,221.87.

Statistics Canada said real gross domestic product expanded at an annual pace of 4.5 per cent, for the country’s best start to a calendar year since 2002.

The TSX had a broad-based advance led by the energy sector as oil prices got a lift as Tropical Storm Harvey hampered supply.

The October crude contract climbed US$1.27 to US$47.23 per barrel.

The bump in oil prices lifted the loonie, which was trading at an average price of 79.77 cents US, up 0.44 of a U.S. cent.

On Wall Street, the Dow Jones industrial gained 55.67 points to 21,948.10 and the S&P 500 index rose 14.06 points to 2,471.65. The Nasdaq composite index, meanwhile, hit a record high of 6,428.66, up 60.35 points.

Elsewhere in commodities, the December gold contract moved up US$8.10 to US$1,322.20. The October natural gas contract moved ahead 10.1 cents to US$3.04 per mmBTU and the December copper contract gained about 1.2 cents to roughly US$3.10 a pound.

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