TSX gain strength Wednesday as oil price rises, loonie falls

TORONTO -- The Toronto stock market gained ground on a volatile day as oil prices rose and the U.S. central bank said it would leave its overnight interest rate unchanged.

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The S&P/TSX composite index added 46.45 points to end the day at 12,377.77, after rising 188 points on Tuesday.

In New York, the Dow Jones Industrial average plummeted 222.77 points to close at 15,944.46, the broader S&P 500 index dropped 20.68 points to 1,882.95, and the Nasdaq fell 99.50 points to end the day at 4,468.17.

On commodity markets, the March crude contract rose 85 cents to settle at US$32.30 a barrel, while the February gold contract fell $4.40 to US$1,115.80 an ounce and March natural gas dropped one tenth of a cent to US$2.157 per mmBtu.

The loonie lost 0.14 of a U.S. cent to end trading at 70.91 cents US, after the U.S. Federal Reserve said it still plans on raising interest rates in future despite slowing economic growth.



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