Canada’s main stock index closed higher in Thursday trading on strength in the technology sector. The mining and utilities sectors moved lower.
South of the border it was a downbeat start to December as stocks fell in uneven trading and bond yields pulled back.
The government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October, but fears of a recession appear to outweigh easing inflation. Analysts are reading signals of a slower pace and lower magnitude of rate increases possibly later this month.
Today in the Markets
The Canadian dollar traded for 74.45 cents US, compared to 74.39 cents US on Wednesday.
US crude futures traded $0.84 higher at $81.39 a barrel, while the Brent contract gained $0.05 to $87.02 a barrel.
The price of gold was up US$29.05 to US$1,802.65.
In world markets, the Nikkei was up 257.09 points to 28,226.08, the Hang Seng was up 139.21 points to 18,736.44, the FTSE was down 14.56 points to 7,558.49, and the DAX was up 93.26 points to 14,490.30.
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