MID-DAY: TSX up slightly as pot stocks boost ahead of legalization; oil slips from morning gains
A rally in the energy sector is helping push the TSX higher. The Bay Street index is up 12 points to 15,426 as crude prices rise on tension between the US and Saudi Arabia.
The price of US crude has slipped slightly to 71.29 a barrel.
Pot stocks are also helping the TSX as legalization is just days away, pushing the cannabis sector higher. Canada’s Cannopy Growth is buying out a Colorado-based hemp company for $425 million. Reports have warned a shortage of supply could lead to empty shelves across the country after sales start on Wednesday.
Across the border the Dow is down 20 points to 25,319 after Saudi officials agreed to an investigation into the death of a US journalist. Donald Trump had threatened severe reprimand if the middle eastern country was found involved in his death.
The Loonie is growing to 76.97 cents US.