Loonie gains strength as crude price rises; TSX starts slightly positive

TORONTO -- North American stock markets got off to a positive start today, with modest gains in Toronto and New York.

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The Toronto Stock Exchange's S&P/TSX index was up 37.52 points at 12,180.68 after 10 minutes of trading. That followed a 246-point decline on Monday.

In New York, the Dow Jones industrials average was up a more substantial 123.68 points at 16,008.90 shortly after the open, while the S&P 500 showed a less robust increase 9.64 points at 1,886.72 and the Nasdaq 100 was up a marginal 2.05 points at 4,198.58.

The Canadian dollar was trading at 70.69 cents US as North American stock markets opened, up 0.61 from Tuesday's close.

On the commodity markets, the February gold contract was up $6.30 at US$1,111.60 an ounce and the March crude contract was up 34 cents at US$30.68 per barrel.

On overseas stock markets, the Shanghai index fell 6.4 per cent before it closed and markets in Hong Kong and Tokyo also showed significant declines of nearly 2.5 per cent.



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