OlympicsAmerican International Group
May 9, 2008
TSX flat as oil prices surge; N.Y. falls on AIG report, crude shock
- The Toronto stock market was muted Friday morning as most sectors stepped back following a large gain Thursay - with the notable exception of the energy group, which moved modestly higher as oil prices continued to surge.
Investors also took in numbers that showed continued strong job creation during April.
However, new record crude prices along with a huge quarterly loss at U.S. insurer American International Group Inc. depressed New York markets.
Toronto's S&P/TSX composite index moved down 12.71 points to 14,595.28 after Thursday's 236-point oil-price-driven surge took the main Toronto index within less than 20 points of its record closing high from late last July. Read more
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