MID-DAY: TSX gains on commodity boost; Aimia accepts Air Canada group bid for Aeroplan
A boost in crude prices is giving life to the TSX.
The Bay Street index is 53 points higher at 16,384, as the price of US crude climbs to 66.14 a barrel. The increase comes in part from a dip in the American dollar. The US currency slipped after Donald Trump openly criticized the US Federal Reserve for working against the US economy by raising interest rates.
Despite Trumps effort to downplay China’s trade visit to Washington, the Dow is still getting strength from the possible positive outcome of this meeting, climbing 79 points to 25,838.
The Loonie is also gaining strength from the slumping US dollar, up to 76.71 cents US.
Aimia is taking a deal from Air Canada and associates to buy the Aeroplan program for $450 million. Air Canada along with partners TD, CIBC and Visa is also taking on the $1.9 billion in Aeroplan liability. Aimia shares saw a slight increase after the news gaining 40 cents.