TSX Ends Higher On Strong Oils And Miners - Canadian Commentary

(RTTNews) - The Toronto Stock Exchange's benchmark index closed higher for a second straight session on Monday, as energy stocks gained on rising crude oil prices and mining stock advanced on stronger copper prices.

The S&P/TSX composite index closed up 14.80 points, or 0.10%, at 14,957.21. Six of the 10 main sectors on the index were positive.

Light sweet crude for May delivery rose $0.88 to settle at $47.45 on the New York Mercantile Exchange, helped mainly by a falling U.S. dollar.

Copper for May delivery rose $0.285 to $2.7895 a pound. Gold for April delivery climbed 0.3% to $1,187.70 a troy ounce.

The greenback fell for a second straight session against a basket of major currencies after the recent trend of disappointing U.S economic data continued. The euro was last up 1.31% against the dollar at $1.09650, while the dollar was last down 0.24% against the Japanese yen at 119.75 yen.

Among the energy stocks, Canadian Natural Resources (CNQ.TO) rose 0.4%, while Suncor Energy (SU.TO) surged 0.8% and Cenovus Energy (CVE.TO) climbed 1.2%. Legacy Oil + Gas (LEG.TO) gained 4.5%.

Mining stocks gained after copper prices rose. HudBay Minerals (HBM.TO) jumped 6.4%, while First Quantum Minerals (FM.TO) surged 4.2% and Teck Resources (TCK-A.TO) rose 1.35%.

Gold stocks were also among the gainers. Goldcorp (G.TO) climbed 1.4%, while Barrick Gold (ABX.TO) surged 1.8% and IAMGOLD (IMG.TO) rose 1.1%.

After moving mostly higher in early trading, the major averages in the U.S. came under pressure going into the close, ending the session modestly lower. The Dow edged down 11.61 points or 0.1% to 18,116.04, while the Nasdaq slid 15.44 points or 0.3% to 5,010.97 and the S&P 500 dipped 3.68 points or 0.2% to 2,104.42.