TSX up, Wall Street sets records, as loonie falls amid tumbling oil prices

TORONTO _ A sharp drop in the price of oil wasn’t enough to offset broad gains on the Toronto stock index, as the loonie hit its lowest level in more than a month.

The S&P/TSX composite index advanced 70.06 points to 15,705.00, despite some drag from the energy sector as the November crude contract fell $1.09 to US$50.58 per barrel.

The Canadian dollar was trading at an average price of 79.97 cents US, down 0.16 of a cent. The last time the loonie close below 80 cents US was Aug. 31.

South of the border, Wall Street indices logged record highs.

The Dow Jones industrial average climbed 152.51 points to 22,557.60, the S&P 500 index was up 9.76 points to 2,529.12 and the Nasdaq composite index advanced 20.76 points to 6,516.72.

Elsewhere in commodities, the November natural gas contract was down nine cents at US$2.92 per mmBTU, the December gold contract fell $9.00 to US$1,275.80 an ounce and the December copper contract was unchanged at US$2.96 a pound.