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Just four months after wallowing at the 12,000 level amid fallout from the global credit crunch, the benchmark index of the TSX closed at a record high above 15,000 Tuesday amid ongoing strength in commodity stocks. The S&P/TSX composite index ended the trading day at 15,047 - up 63 points. The recent run-up in the TSX - 24 per cent since late January - is largely due to the spectacular rise in the most heavily weighted industry group in the index - energy. Since Jan. 21, when the broader index hit its most recent low, the energy group has soared by just over 50 per cent, fuelled by oil prices that marched to record highs. The energy sub-index was 3.1 per cent higher on Tuesday, as crude oil futures kept up that record rise. The July crude contract hit a peak of $129.29 US a barrel, before pulling back to settle at $128.98 US, a gain of $2.26 US from Monday. Rising gold prices also boosted the TSX. The gold sub-index was up 2.7...
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TSX hits record high

Just four months after wallowing at the 12,000... (more)

Channel:MediaScrape Category:Business Views:6
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