Loonie, stock indexes waver between gain and loss

TORONTO -- The Canadian dollar and Toronto Stock Exchange were teetering between positive and negative Wednesday morning.

The loonie was trading at 70.15 cents US, down 0.01 of a cent just before noon.

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Earlier the loonie traded as low as 70.01 cents US, coming close to a nearly 13-year low set on Tuesday when the currency briefly fell below 70 cents US.

North American stock markets began Wednesday's trading session on a positive note but weakened.

The Toronto Stock Exchange's S&P/TSX composite index was up 30.68 points at 12,404.58 but had been in the red. On Tuesday, the index added 54.65 points, its first positive result since the Christmas break.

The Dow Jones average of 30 stocks was down 20.47 points at 16,495.75, the broader S&P 500 index was down 1.18 points at 1,937.50 and the Nasdaq dropped 9,.34 points to 4,324.381.

On the commodity markets, the February gold contract was up $1.90 at US$1,087.10 an ounce and the crude contract was up 77 cents at US$31.21 per barrel. On Tuesday, crude futures dipped below US$30 for the first time in years.



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