June 20 Markets Report

By The Canadian Press
June 21, 2016 - 12:18pm

North American stock markets rallied and the loonie rebounded sharply against the U-S dollar for a second consecutive session amid signs that Britons will vote later this week to stay in the European Union.

The Canadian dollar was up 0.42 of a cent at 78.07 cents U-S after having risen half a cent on Friday.

The S*P/TSX composite in Toronto index shot up 113.37 points to 14,015.14, with energy and mining stocks leading the way.

In New York, the Dow Jones industrial average soared 129.71 points to 17,804.87, while the broader S*P 500 composite index advanced 12.03 points to 2,083.25 and the Nasdaq composite ran up 36.87 points to 4,837.21.

Uncertainty over the consequences of a departure of Britain from the E-U, commonly referred to as Brexit, has cast a cloud over global markets in the last two weeks.

The latest polls now indicate that the U-K is more likely to vote to stay in rather than to leave the economic union.

In commodities, the August crude contract climbed $1.40 to US$49.96 a barrel and July natural gas jumped 12 cents to US$2.75 per mmBTU.

The August gold contract fell $2.70 to US$1,292.10 a troy ounce and July copper rose four cents to US$2.09 a pound.

June 22 Markets Report

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