S&P/TSX composite up as price of oil moves higher, U.S. stock markets also rise

Strength in energy and base metal stocks helped lift Canada’s main stock index higher as the price of oil rose in late-morning trading, while U.S. stock markets also moved up.

The S&P/TSX composite index was up 78.02 points at 22,153.12.

In New York, the Dow Jones industrial average was up 79.91 points at 39,250.15. The S&P 500 index was up 21.66 points at 5,227.47, while the Nasdaq composite was up 98.15 points at 16,338.60.

The Canadian dollar traded for 73.99 cents US compared with 73.68 cents US on Tuesday.

The May crude oil contract was up 69 cents at US$85.84 per barrel and the May natural gas contract was down less than penny at US$1.86 per mmBTU.

The June gold contract was up US$23.60 at US$2,305.40 an ounce and the May copper contract was up 12 cents at US$4.19 a pound.