Canada’s benchmark stock index was holding on to its early gains at midday Friday, getting a boost from its materials sector, but still on track for its fourth consecutive weekly loss.
The S&P/TSX composite index was up about 79 points, or 0.64 per cent, to 12,440. Its materials sector was up 1.72 per cent, with gold miners leading the gains.
The price of crude oil had nearly recovered the previous day’s losses, rising $1.92 to $107.27 US a barrel, on reports that sanctions could reduce Iranian crude exports. The price of gold was up $21.50 to $1,664.00 US an ounce.
The Canadian dollar was up 10 basis points to $1.0013 US.
In the U.S., the Dow Jones industrial average erased its earlier losses, and was up about 39 points, or 0.30 per cent, to 13,085, while the Nasdaq composite index remained barely in negative territory, down two points, or 0.07 per cent, to 3,061.
Markets overseas were lower across the board. In Asia, Tokyo’s Nikkei fell 1.14 per cent and Hong Kong’s Hang Seng declined 1.11 per cent. Losses were smaller in Europe: London’s FTSE slipped 0.12 per cent, the CAC in Paris dipped 0.17 per cent and the DAX in Frankfurt had edged down 0.02 per cent.
