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TSX reverses three days of declines

The Toronto stock market closed sharply higher Wednesday on rising energy and financial stocks after three down days on the markets.

The Toronto stock market closed sharply higher Wednesday on rising energy and financial stocks after three down days on the markets.

New York also made headway after a dismal read of economic conditions by the U.S. Federal Reserve, a buyout deal in the home-building industry and a disappointing start to the U.S. corporate earnings season.

Toronto’s S&P/TSX composite index surged 144.53 points to 8,969.28.

The Canadian dollar rose 0.03 of a cent to 80.82 cents US.

Canada Mortgage and Housing Corp. reported the seasonally adjusted annual rate of housing starts increased to 154,700 units in March from 136,100 units in February.

 
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