Canada stocks: TSX rebounds from 2-1/2-month low as oil climbs
EWC•The S&P/TSX Composite rose 0.3% to 35,145.38 on Thursday, recovering some of Wednesday’s 1.7% drop to its lowest close since July 20. Oil climbed 3.6% to $91.49 a barrel, lifting energy shares.
1. Stocks recover some losses
Canada’s main stock index rose 103.52 points on Thursday as higher oil prices boosted energy shares. The energy sector gained 2.8%, while materials rose 0.7%; technology fell 1.1% and financials lost 0.3%.
2. Oil and company moves
U.S. crude futures settled 3.6% higher at $91.49 a barrel on renewed concerns about the Middle East war and supply disruptions from a hurricane approaching the U.S. Gulf Coast. Richelieu Hardware shares jumped 11.4% after the company reported increased third-quarter revenue.
