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TORONTO—Canada’s main stock index closed higher for a fourth-straight day as it was propelled by a large increase in the price of crude oil and the Bank of Canada’s latest rate announcement. The S&P/TSX composite index closed up 199.58 points to 14,804.73. The Canadian dollar traded at an average of 75.64 cents U.S. compared with an average of 75.23 cents U.S. on Tuesday after the Bank of Canada kept its key rate on hold at 1.75 per cent, but said higher rates will be necessary over time. (Frank Gunn / THE CANADIAN PRESS) In New York, the Dow Jones industrial average gained 91.67 points at 23,879.12. The S&P 500 index was up 10.55 points at 2,584.96, while the NASDAQ composite was up 60.08 points at 6,957.08. The Canadian dollar traded at an average of 75.64 cents U.S. compared with an average of 75.23 cents U.S. on Tuesday after the Bank of Canada kept its key rate on hold at 1.75 per cent, but said higher rates will be necessary over time. The February crude contract was up $2.58 (U.S.) at $52.36 (U.S.) per barrel and the February natural gas contract was up 1.7 cents at $2.98 (U.S.) per mmBTU. […]
