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Commodities power Canadian stocks to 15-month highs

Wednesday, October 19, 2016 14:18
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Canada may be a triple A-rated credit, but in one significant and positive respect it compares with emerging markets like Thailand and Indonesia.

A recovery in commodity prices is driving up Canadian stocks at a similar pace to those in some emerging markets.

The benchmark S&P/TSX composite index rose another 0.9% to 14,883.94 Wednesday, reaching its highest level in almost 16 months. The index is up 14% so far this year, the best-performer among developed countries.

The TSX sank to a two and a half year low in January, but has staged a dramatic turnaround on rising expectations that resource rich country will benefit from a rebound in commodity price – spuured further by oil prices scaling 15-month highs this session.

Story by ProactiveInvestors


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