Mining and Energy stocks back Canadian and American markets
Stocks struggle Wednesday morning as risk trades were daunted by dreary economic activity figures on both sides of the globe and the Greek post-deal aftermath.
The FTSE All World index sank for a second day, falling 0.3% to 216.85, while the dollar showed renewed strength reaching a seven-month high against the yen.
The TSX, however, was racking a moderate gain, despite the falling commodity prices and the global trends. Miners contributed to this gain, taking the S&P/TSX composite index up 14.72 points to 12,638.08 and the TSX Venture Exchange was ahead 6.89 points to 1,685.52.
Noteable gainers were Suncor Energy (TSX:SU, which improved by 37 cents to $35.11, placing the TSX energy sector ahead 0.4%.
Gold prices went down after a two-week high in Europe, as persistent concerns over Europe's finances hurt the euro and weighed on stock markets, while supply upsets in major producer South Africa lifted platinum to a five-month high.
Copper also fell on the London Metal Exchange (LME), slipping 0.5 percent to $8,410 by 1124 GMT, from Tuesday's close of $8,449 a tonne.