Blockbuster Rogers-Shaw deal helps lift TSX to new record, U.S. stock markets up

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TORONTO — The records keep rolling in for Canada's main stock index as the telecom sector got a big boost from the $26-billion proposed purchase of Shaw Communications by Rogers Communications.

The S&P/TSX composite index closed up 103.43 points to 18,954.75.

In New York, the Dow Jones industrial average rose 174.82 points at 32,953.46. The S&P 500 index increased 25.60 points at 3,968.94, while the Nasdaq composite was up 139.85 points at 13,459.71.

The Canadian dollar traded for 80.13 cents US compared with 80.04 cents US on Friday.

The April crude oil contract was down 22 cents at US$65.39 per barrel and the April natural gas contract was down 11.6 cents at US$2.48 per mmBTU.

The April gold contract was up US$9.40 at US$1,729.20 an ounce and the May copper contract was essentially flat at US$4.14 a pound.

This report by The Canadian Press was first published March 15, 2021.

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

The Canadian Press