MID-DAY: Energy sector boosted by Enbridge and Oil; Investors await Iran sanctions from Trump
Energy shares are giving life to the TSX. Enbridge stocks gained this morning by 3.3 per cent following a better than expected quarterly report from the energy company.
Oil prices are also boosting shares as investors prepare for Trump to slap sanctions on Iran. The US price of crude is steady at 70.98 a barrel.
Gold is moving back up as well, gaining 5.70 to 1,318 an ounce.
The TSX is up to 15,947.
The Loonie is gaining strength from the energy and commodity sectors pushing up to 78.11 cents US.
Across the border the Dow is gaining to 24,676 as inflation fears drop following a report showing US consumer prices came up short of expectations.
Canadian Tire is expanding its reach in the clothing industry as it has announced it will buy Norwegian sportswear maker Helly Hansen for $985 million.