Main Canadian stock index advances modestly, loonie strengthens

TORONTO — Canada’s main stock index is up moderately with some of the lift coming from the metals and mining sector.The S&P/TSX composite index was up 40.09 points at 16,267.89 after 90 minutes of trading, with Avalon Advanced Materials showing renewed strength after coming off a 52-week high set last week.In New York, the Dow Jones industrial average was up 293.80 points at 26,013.48. The S&P 500 index was up 34.71 points at 2,878.43, while the Nasdaq composite was up 127.49 at 7,743.75.The Canadian dollar traded at 75.30 cents US, up from an average of 74.75 cents US on Thursday.The July crude contract was up 75 cents at US$53.34 per barrel and the July natural gas contract was up a cent at $2.33 per mmBTU.The August gold contract was up $7.70 at US$1,350.40 an ounce and the July copper contract was down 2.3 cents at US$2.63 a pound. Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD)The Canadian Press read more