S&P/TSX composite up despite plunge in gold as financial and energy stocks rise

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TORONTO — Canada’s main stock index edged up in early trading as gains in the financial and energy sectors offset big losses in the materials stocks as the price of gold plunged, taking the shares of many of the big gold miners with it.

The S&P/TSX composite index was up 13.90 points at 16,619.40.

In New York, the Dow Jones industrial average was up 344.14 points at 28,135.58. The S&P 500 index was up 14.70 points at 3,375.17, while the Nasdaq composite was down 48.65 points at 10,919.71.

The Canadian dollar traded for 75.16 cents US compared with 74.88 cents US on Monday.

The September crude contract was up 80 cents at US$42.74 per barrel and the September natural gas contract was up four cents at nearly US$2.20 per mmBTU.

The December gold contract fell US$77.50 to US$1,962.20 an ounce and the September copper contract edged up less than a penny at nearly US$2.87 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

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