S&P/ITX composite index gains on Toronto Stock Exchange

In Canada on Monday, the S&P/ITX composite index on the Toronto Stock Exchange had gained 1 percent by mid-day to 10,659.79 on a volume of 122 million shares.

Earlier in the day, the index had gone as high as 10,682.92. Advances in energy stocks were instrumental in the gains as crude oil reached a new high price on concerns of an US gasoline shortage and fears of terrorist attacks in Saudi Arabia.

Imperial Oil was up3.7 percent to C$117.75, while Petro-Canada added C$3.19 to its value to C$95.29. Both were record highs. Ensign Energy was up 44 Canadian cents to C$32.00 on a strong second-quarter earnings report. Technology stocks were up as well, helped by a better-than-forecast quarterly report from telecommunications equipment supplier Nortel Networks.

Nortel gained 13.4 percent to C$3.63. In other sectors, aluminium producer Alcan Inc. saw its shares rise in value by 4 percent to C$41.59 despite a disappointing quarterly earnings report.

Story link: S&P/ITX composite index gains on Toronto Stock Exchange