Strength in precious metal miners’ shares boosted Canada’s largest market to a higher close on Thursday. The resource-heavy index’s success mirrored an upbeat sentiment on Wall Street after signs of cooling inflation.
March’s consumer price index report showed inflation pressures eased last month, having advanced just 0.1 per cent month over month. Consumer prices grew 5 per cent on an annual basis, the smallest increase in almost two years. Markets have waivered after the Federal Open Market Committee said it expects the recent banking crisis would cause a recession later this year.
Today in the Markets
The Canadian dollar traded for 74.98 cents US, compared to 74.44 cents US on Wednesday.
US crude futures traded $0.97 higher at $82.29 a barrel, and the Brent contract lost $1.10 to $86.23 a barrel.
The price of gold was up US$20.45 to US$2,038.69.
In world markets, the Nikkei was up 74.27 points to 28,156.97, the Hang Seng was up 34.62 to 20,344.48, the FTSE was up 18.54 points to 7,843.38, and the DAX was up 25.86 points to 15,729.46.
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