North American stock markets end moderately higher as oil and gold retract

TORONTO — Stock markets in Toronto and New York racked up small gains as commodities softened and oil prices pulled back from a four-day rally.

The S&P/TSX composite index increased 30.63 points to 15,125.80, with advances in financial and consumer discretionary stocks.

Bank of Montreal (TSX:BMO), the last of Canada's five biggest banks to report, said its profits grew by 11 per cent in the fourth quarter to $1.35 billion. Its shares rose nearly three per cent to $92.06.

On Wall Street, the Dow Jones industrial average climbed 35.54 points to 19,251.78 to a new record, while the S&P 500 added 7.52 points at 2,212.23. The Nasdaq composite rose by 24.11 points at 5,333.

In commodities, the January crude oil contract fell 86 cents to US$50.93 per barrel, as investors took a pause from gains following the announcement of an OPEC output deal.

The February gold contract declined $6.40 to US$1,170.10 per ounce, while the January contract for natural gas dipped two cents at US$3.64 per mmBTU. The March copper contract also dropped, slipping two cents to US$2.68 per pound.

The Canadian dollar shed 0.04 of a U.S. cent at 75.28 cents US.

The Canadian Press