Market Round-Up – August 17, 2012

The Toronto stock market closed higher as rising commodity prices, positive economic data and another commitment to preserve the euro currency union left the TSX at a fresh 3 1/2 month high.

The S&P/TSX composite index extended gains to a fourth session, up 57 points to 12,090.

The Canadian dollar backed off a quarter of a cent to 101.1 cents US after the Consumer Price Index declined 0.1 per cent on a seasonally adjusted basis in July. That was lower than expected and reinforeced the view that the Bank of Canada will keep interest rates unchanged for some time to come.

U.S. markets were also up at the end of a positive week, helped along by positive readings on consumer confidence and an index of future U.S. economic activity.

The Dow industrials edged 25 points higher.

The Nasdaq composite index was ahead 14 points.

Oil gained 41 cents at US$96.01 a barrel.

The TSX ended the week up almost 1.7 per cent, leaving the main index up about 130 points year to date.

Have a great weekend!