TORONTO - Rising oil prices helped push the Toronto stock market higher while some strong U.S. earnings reports helped briefly divert investor attention from government debt worries.
The S&P/TSX composite index closed up 78.78 points to 13,332.92.
The Canadian dollar was up 0.88 of a cent to 105.17 cents US -- the highest close since the end of April -- after the Bank of Canada announced it was leaving its key rate unchanged but markets anticipated an eventual rate hike.
Oil gained $1.57 to US$97.50 a barrel.
Gold prices moved down slightly from yesterday's latest record close, losing $1.30 to US$1,601.10 an ounce.
Rising hopes for an end to the impasse over raising the U.S. government's debt ceiling also helped sent the Dow industrials surging 202.26 points to 12,587.42.
The Nasdaq composite index rose 61.41 points to 2,826.52 while the S&P 500 index was up 21.29 points to 1,326.73.
