Canadian markets cross 11,000 mark first time in 2009
August 5th, 2009 - 10:39 am ICT by IANSToronto, Aug 5 (IANS) Canadian markets crossed the 11,000-point mark Tuesday for the first time in 2009.
The last time the composite index on the Toronto Stock Exchange (TSX) stood at this mark was in October 2008.
After sinking to the lowest level of almost 7,500 points in March this year, the markets have made major gains to recoup some of the losses from peaks of June 2008.
The Canadian markets had crossed the 15,000 mark for the first in their 150-year history in June 2008.
But as the global meltdown hit Canada also, the TSX index went into a free fall, sinking to 7,566 points last March.
The rising commodity and oil prices pushed the index above 11,000 Tuesday, gaining 230.95 points to close at 11,018.10.
The Toronto rally was in lock-step with surge on the New York Stock Exchange which was buoyed by positive news from the banking, housing and manufacturing sectors.
On the NYSE, the S&P and the Nasdaq crossed the 1,000 mark and 2,000 mark respectively for the first time since October last year, spurred by reports of 3.5 percent jump in home sales in June.
The energy sector was up three percent on the Toronto Stock Exchange which is the world’s largest energy market with over 400 global oil and gas companies traded on it. The base metal sector also up 3.7 percent.
Canada’s largest mining company Teck Resources Ltd was up 2.6 percent to $29.08 at the close. This sparked an almost seven percent rally for transport leader Canadian Pacific Railway Ltd, which closed at $51.21.
The gold sector too jumped 2.1 percent.
- Canadian markets hit pre-recession levels - Dec 02, 2010
- Record trading at Toronto stock exchange despite downturn - Jan 07, 2010
- BlackBerry stock shoots up on Citigroup upgradation - Feb 17, 2011
- Canadian dollar hits a new high - Jan 15, 2010
- Canadian currency set to outperform US dollar - Jan 05, 2010
- Canadian markets open positive in New Year - Jan 03, 2009
- Mayhem on Toronto bourse as RIM, Potash Corp. plunge - Aug 05, 2011
- Canadian markets touch 10,000 points in record gains - May 05, 2009
- After month-long rally, Canadian markets slipping - Jun 18, 2009
- Sensex slips into red in choppy trade - Dec 27, 2011
- BlackBerry stock slips after PlayBook unveiling - Sep 29, 2010
- BlackBerry to filter porn content for the first time - Jan 12, 2011
- Sensex rallies, crosses 18,000-mark - Feb 15, 2012
- Economic recovery in N.America slipping: Bank - Sep 03, 2010
- Sensex falls 97 points in choppy trade (Lead) - Dec 27, 2011
Tags: canadian markets, canadian pacific railway, canadian pacific railway ltd, composite index, energy market, energy sector, global meltdown, global oil, gold sector, manufacturing sectors, mining company, nasdaq, new york stock, new york stock exchange, nyse, oil and gas companies, oil prices, positive news, toronto stock exchange, york stock exchange
