News Column

Update:ADDS closing figures

January 28, 2014


TORONTO - The Toronto stock market closed higher after a string of sharp losses prompted by emerging market worries. The S&P/TSX composite index ran ahead 105.37 points to 13,687.66. The Canadian dollar closed at a fresh 4 1/2 year low, down 0.35 of a cent at 89.64 cents US. The Dow Jones industrials was up 90.68 points to 15,928.56, the Nasdaq composite index moved up 14.35 points to 4,097.96 and the S&P 500 index rose 10.94 points to 1,792.5. Markets have been severely buffeted over the last few sessions on concerns about emerging markets, including slowing growth in China . Investors have also been jittery because of currency turmoil involving the Turkish, Russian and Indian currencies as investors wonder how the U.S. Federal Reserve's policy to reduce its monetary stimulus impacts on them. Fed stimulus has kept long-term rates low and funnelled a steady stream of cheap money into those markets. However, the Fed is widely expected to announced Wednesday that it plans to further curtail its massive monthly bond purchases. ( The Canadian Press )

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Source: Canadian Press Broadcast Wire (Canada)

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