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Canadian stock market rising Wednesday morning

Xinhua,May 10, 2018 Adjust font size:

TORONTO, May 9 (Xinhua) -- Canada's main stock index rose Wednesday morning as oil prices hit three-year highs after U.S. President Donald Trump announced to withdraw from the Iran nuclear deal.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index rose 38.91 points, or 0.25 percent, to 15,881.62 in the morning.

Meanwhile, the Canadian dollar rose from seven-week low. The Canadian dollar rose 0.44 cents to 0.77.64 U.S. dollar.

Trump announced Tuesday the "highest level" of sanctions against the OPEC member, raising the risk of conflict in the Middle East and casting uncertainty over the supply of oil, one of Canada's major exports.

The Canadian dollar advance came as Mexico launched a counterproposal to U.S. demands to toughen automotive industry content rules under the North American Free Trade Agreement (NAFTA). Enditem

 

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