S&P/TSX composite rebounds to new record as materials rise in hedge against inflation

·1 min read

TORONTO — Canada's main stock index rebounded from a midweek breather to resume its record climb as the materials sector got a boost from investors seeking safety from inflation.

The S&P/TSX composite index closed up 120.05 points to 21,581.98 after hitting a record intraday high.

In New York, the Dow Jones industrial average was down 158.71 points at 35,921.23. The S&P 500 index was up 2.56 points at 4,649.27, while the Nasdaq composite was up 81.57 points at 15,704.28.

The Canadian dollar traded for 79.46 cents US compared with 80.31 cents US on Wednesday.

The December crude oil contract was up 25 cents at US$81.59 per barrel and the December natural gas contract was up 26.9 cents at US$5.15 per mmBTU.

The December gold contract was up US$15.60 at US$1,863.90 an ounce and the December copper contract was up 7.7 cents at US$4.40 a pound.

This report by The Canadian Press was first published Nov. 11, 2021.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press

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