Financials give TSX a minor boost, loonie down amid flat GDP numbers for July

TORONTO _ Canada’s largest stock index posted a minor gain today, while the loonie fell amid the latest GDP numbers released by Statistics Canada.

The S&P/TSX composite index advanced 16.69 points to 15,634.94, lead mainly by financials.

Statistics Canada reported that gross domestic product was essentially unchanged at zero per cent growth in July compared with June, a development that could head off more rate hikes this year.

The Canadian dollar was trading at an average price of 80.13 cents US, down 0.19 of a cent.

In New York, the Dow Jones industrial average added 23.89 points to 22,405.09. The S&P 500 index edged up 9.30 points to 2,519.36 and the Nasdaq composite index advanced 42.51 points to 6,495.96.

In commodities, the November crude contract was up 11 cents to US$51.67 per barrel while the November natural gas contract lost a penny at US$3.01 per mmBTU.

The December gold contract gave back $3.90 to US$1,284.80 an ounce and the December copper contract retreated three cents to US$2.96 a pound.