TORONTO – The Toronto Stock Exchange is outperforming the major U.S. markets this morning, with resource stocks leading the way.

The S&P/TSX composite index was up 164.28 points points, or 1.1 per cent, at 14,990.37 after nearly two hours of trading. The Canadian dollar was at 74.57 cents US, up 0.57 of a U.S. cent from Friday’s close.

A number of companies in the oil and gas sector and the mining sector were up sharply, including Encana Corp., Precision Drilling and HudBay Minerals.

The January crude contract was up $1.58 at $47.94 per barrel, December natural gas rose 11 cents to US$2.95 per mmBTU and December copper contracts advanced five cents at US$2.52 a pound.

December gold rose $5.10 to US$1,213.80 an ounce.

In New York, the Dow Jones industrial average rose a minimal 3.12 points to 18,906.94 and the S&P 500 advanced 4.58 points to 2,191.70. The Nasdaq composite rose 12.83 points to just under 5,346.80.

Filed under: Stock Market News

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