TSX Crawls Higher After ECB Rate Vow -- Canadian Commentary


(RTTNews.com) - Canadian stocks inched higher Thursday as the European Central Bank pledged to keep interest rates on hold for at least a year.

The TSX Composite Index was up 63.14 points to 16,328.96.

Energy stocks turned in a decent performance as crude oil prices touched a 2-week high near $67/bl.

An upbeat U.S. retail sales report fueled hopes for continued economic growth. Trade squabbles have been put on the backburner this week amid a series of strong economic data.

U.S. retail sales jumped by 0.8 percent in May after climbing by an upwardly revised 0.4 percent in April.

On the corporate front, Canadian National Railway Co (CN.TO) plans to invest more than C$200 million in Quebec this year.

Tour operator Transat AT Inc. (TRZ.TO) reported a profit in its latest quarter compared with a loss a year ago.

Rogers Media has cut 75 jobs, citing industry headwinds.


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