Strong earnings, Rising Commodity Prices to support Toronto stock market

On Thursday the Toronto stock market is seem will be increasing for another positive session with crude oil shoot up above US$112 a barrel, and the profit reports of US had given a support to investors. The U.S dollar of the day keep on weaken so, the canadian dollar increase 0,69 of a cent become 105,59 cents US that was the highest stage since November, 2007. By the end of Easter, the U.S future can prediction it will moving higher with the Dow Jones industrial futures increase 64 points become 12,460, the Nasdaq futures increase 26.75 points become 2,382 and the S&P 500 futures advance 8.1 points become 1,336.4. The U.S dollar weaknes has give an effect about oil prices which continued jump. But U.S consumers still strong although the cost of fuel goes up.The crude contract of june on the New York Mercantile Exchange rise 71 cents become US$112.16 a barrel.

U.S. Energy Information Administration said that last week, the oil supplies of U.S recede by 2.3 million barrels. The war in Lybia and riot in Mideast countries has effetc increasing of oil about 33 per cent since mid-February. But, weakness of American currency was also help the price of metal shoot up $8,10 become US $ 1.507 an ounce whereas the May copper increase US $ 4,36 a pound. Apple Inc reported that net income for its fiscal second quarter was US $ 5990000000 and its also has defeat an incoming revenue at US $24.7 billion from result sold 4.7 million iPads.

On Thursday, General Electric said that in the first quarter, income shoot up 77% become US43.43 billion and its shares increase 2.7% in trading market of New York. In Canada, its net income was down $33.7 million. Manufacturer Celestica Inc. (TSX:CLS) announce that the profit of first quarter increase US $ 30 million and global manufacturer in Toronto is also profit become $ 1,8 billion. When closed, Japan’s Nikkei 225 index rise 0.8% whereas South Korea’s Kospi index increase 1.3%. The mainland China’s Shanghai Composite Index increase 0.7%. London’s FTSE 100 index unchecked 0.22%, Frankfurt’s DAX rose 0.81% and the last the Paris CAC 40 advance 0.63%. (The Canadian Press)