Loonie dips below 70 cents U.S., oil slides again

TORONTO -- The Toronto market posted a solid gain after a volatile day that saw crude oil and the loonie slide sharply before making small recoveries.

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The S&P/TSX composite index added 54.65 points to end the day at 12,373.90, its first positive result since the Christmas break.

In New York, the Dow Jones average of 30 major stocks rose 117.65 points to close at 16,516.22, the broader S&P 500 index added 15.01 points to 1,938.68, and the Nasdaq rose 47.93 points to close at 4,685.92.

The February crude oil contract settled at US$30.44 a barrel, down 97 cents from Monday's close, after dipping below US$30 in earlier trading.

In other commodities, February gold fell $11 to settle at US$1,085.20 a troy ounce while February natural gas fell 13.9 cents to US$2.257 per mmBtu.

The loonie ended the day down 0.17 of a U.S. cent at 70.14 cents US, after slipping below 70 cents earlier in the day.



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