Canadian stocks surge

Toronto, March 17 (IANS) Canada’s main stock market in Toronto rallied as resources stocks were boosted by crude oil prices and US Fed rate decision.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index gained 77.82 points, or 0.58 percent, to close at 13,478.13 points on Wednesday, Xinhua news agency reported.

Half of the TSX index’s eight main sub-sectors moved higher.

The most influential gainers on the index included First Quantum Minerals Ltd., up 10.72 percent to 8.47 Canadian dollars ($6.45) per share, Encana Corporation, up 9.07 percent to 7.94 Canadian dollars, and Canadian Natural Resources, up 2.26 percent to 36.22 Canadian dollars.

The TSX mining and energy groups were up 6.0 percent and 1.52 percent respectively. Among gold plays, Barrick Gold Corp. jumped 5.01 percent to 19.93 Canadian dollars and B2Gold Corp. garnered 10.53 percent to 2.10 Canadian dollars a share.

The Canadian dollar reacted positively Wednesday to the Fed decision which caused a spike in world currencies and markets.

By closing, the Canadian dollar was traded higher at $0.7621, compared with Tuesday’s closing rate of $0.7484.

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