MONEY® Market Round-up – August 8, 2012

The Toronto stock market ended near its highs of the day as commodities drove the market ahead.

The S&P/TSX composite index closed up 201 points to 11,864, with every sector posting gains.

Much of the activity came from metals and mining stocks.

Copper ended higher, while the December gold contract dropped $3.40 an ounce.

The energy sector also got a boost as crude prices hit their highest level in two months.

September crude on the Nymex rose $1.47 to US$93.67 a barrel.

And an acquisition in the financials came with C-I-B-C acquiring the private wealth management business of M-F-S McLean Budden.

On Wall Street, traders found a renewed sense of optimism about the economy, with better earnings results than expected from several U-S companies.

And U-S employers posted the most job openings in four years — a positive sign that hiring may pick up.

The Dow increased 51 points to 13,169.

Nasdaq gained 26 points at 3,016.

The loonie ended the day above parity, up 44-one-hundredths of a cent to 100.25 cents US.

MONEY® Market Round-up