The benchmark Canadian stock exchange TSX gained points today as the price of oil, among other commodities, increased. In the US, the price of oil increased by nearly $2, to $77.59 US a barrel. This rise saw the TSX rebound following days of big losses over Greek debt concerns. The TSX index is heavily reliant on commodity prices, gaining 56 points after open of trade, rising to 11,234.
Other indices did not benefit in the same way however, with the Dow Jones losing 8 points to 10,800. Gold also increased in value, gaining $4 to $1,620 US per ounce. The Canadian dollar gained 0.27 cents, seeing it up to 95.07 US cents.
This good news was offset by less encouraging reports from Europe, where officials are thought to be meeting over plans to uniformly recapitalize Europe’s banks. The International Monetary Fund is also pushing for a reevaluation of the way in which the eurozone debt crisis is being tackled. In particular Antonio Borges, the head of the IMF’s Europe program, commented on the bailout fund across the eurozone needing new tools and more weight behind it.
