In a turnabout from the previous session, tech stocks led a mostly broad gain for Canada’s main stock index on Wednesday. The financial and mining sectors also topped the gainers while utilities was the lone decliner.
Wall Street markets also moved sharply higher after data showed a slower-than-expected rise in inflation last month, down to 8.5 per cent, lower than what was projected from economists. This eased bets on any mega rate hikes from the U.S. Federal Reserve in September.
Today in the Markets
The Canadian dollar traded for 78.25 cents US compared to 77.59 cents US on Tuesday.
US crude futures traded 1.09 per cent higher at $91.49 a barrel, while the Brent contract gained 0.71 per cent to $96.99 a barrel.
The price of gold was down US$3.81 to US$1,790.38.
In world markets, the Nikkei was down 180.63 points to 27,819.33, the Hang Seng was down 392.60 points to 19,610.84, the FTSE was up 28.85 points to 7,517.00, and the DAX was up 176.92 points to 13,711.89.
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