Kenia

Wall Street rises TSX posts tripledigit gain as oil rises and banks

Posted on

TORONTO — The Toronto stock market posted a second straight triple-digit advance as oil prices rose and two of Canada’s biggest banks posted solid results.The S&P/TSX composite index closed up 166.23 points to 13,636.06 after a 101-point gain Monday, helped by a solid gain in the heavily weighted financials sector as both Scotiabank (TSX:BNS) and the Bank of Montreal (TSX:BMO) turned in fourth-quarter earnings that beat analyst expectations.In New York, the Dow Jones industrial average rose 168.43 points to end the day at 17,888.35, while the S&P 500 gained 22.22 points to 2,102.63 and the Nasdaq rose 47.64 points to 5,156.31.On commodity markets, the February gold contract fell $1.80 to end trading at US$1,063.50 an ounce, January benchmark crude oil rose 20 cents to settle at US$41.85 a barrel and January natural gas fell 0.4 cents to US$2.231 per mmBtu.The Canadian dollar ended the day down 0.06 of a U.S. cent to 74.83 cents U.S.Why Canadian stocks may outperform in 2016Bank of Montreal hikes dividend as profit climbs to record $1.21 billionScotiabank beats expectations with 28% profit gain after slashing 1,140 jobs since July read more