Broad rally helps Toronto market hit new high

TORONTO — A broad-based relief rally helped Canada’s main stock index close at a record high, while U.S. stock markets also pushed higher.

The Toronto Stock Exchange’s S&P/TSX composite index closed up 150.10 points at 16,567.42 to top the record set on Tuesday.

In New York, the Nasdaq composite index closed up 107.30 points at 7,823.92 to also set a record high. The Dow Jones industrial average closed up 224.44 points at 24,924.89 and the S&P 500 index closed up 24.27 points at 2,798.29.

The Canadian dollar averaged 75.95 cents US, down 0.09 of a US cent.

The August crude contract closed down five cents at US$70.33 per barrel and the August natural gas contract was down three cents at US$2.80 per mmBTU.

The August gold contract ended up $2.20 at US$1,246.60 an ounce and the September copper contract was up three cents at US$2.78 a pound.

By The Canadian Press

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