TSX dives below 9,000, then winds up with a gain
A woman talking on a cellphone drives by a sign tracking TSX performance in downtown Toronto shortly before Thursday's closing figure was posted. (Robin Rowland/CBC)
North American stock markets wound up with modest gains Thursday after a wild day that saw Toronto's benchmark index up 230 points and down almost 350.
The S&P/TSX composite index, which fell below 9,000 during the day for the third time this month, closed up 94.47 points, or one per cent, at 9,331.35. It is still down more than 4,400 points since Labour Day.
New York's Dow Jones industrial average, which had been up about 275 points and down the same number, closed up 172.04 points, or two per cent, at 8,691.25.
Energy stocks led Toronto's advance as the price of oil moved higher. Light, sweet crude for December delivery was up $2.60 to $69.35 US a barrel in late New York trading.
Among Toronto oil and gas stocks, one of the winners was EnCana, which reported a big jump in quarterly profit. Its share price rose $4.31 to $55.05.
Petro Canada was up $2.39 to $27.80 and Imperial Oil was up $2.62 to $39.11.
Among losers, Teck Cominco Class B was down $1.78 to $12.54 and SNC Lavalin was down $2.56 to $30.25.
Research In Motion, whose BlackBerry smart phone faces stiff competition from Apple's iPhone, was down $2.33 to $58.19.
Bank of Nova Scotia was down $1.61 to $39.49 after an analyst at BMO Capital Markets issued a note suggesting the stock was overpriced.
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