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RBC sides with the bulls after across-the-board market correction
EDMONTON - Oil prices rose nearly $6 US a barrel Monday as commodities rebounded from last week's across-the-board sell-off.
The jump in crude to about $103 a barrel in New York still leaves prices more than 10 per cent below the recent high of $115.
Prices for gold, copper and silver -which plunged 30 per cent last week, their worst one-week slide since 1975 -also snapped back in what many analysts described as an expected "relief" rally.
The turnaround sparked Toronto's lead equity index to a gain of 110 points, to 13,677.13. In New York, the Dow Jones Industrial Average gained 46 points to 12,684.68, while the S&P 500 Index rose six points to 1,346.29.
Read the full article here.
EDMONTON - Oil prices rose nearly $6 US a barrel Monday as commodities rebounded from last week's across-the-board sell-off.
The jump in crude to about $103 a barrel in New York still leaves prices more than 10 per cent below the recent high of $115.
Prices for gold, copper and silver -which plunged 30 per cent last week, their worst one-week slide since 1975 -also snapped back in what many analysts described as an expected "relief" rally.
The turnaround sparked Toronto's lead equity index to a gain of 110 points, to 13,677.13. In New York, the Dow Jones Industrial Average gained 46 points to 12,684.68, while the S&P 500 Index rose six points to 1,346.29.
Read the full article here.