NEWS
06/30/2015 10:24 EDT | Updated 06/30/2016 01:12 EDT

Stock markets calm after Greece debt talks leave crater in previous session

TORONTO - The Toronto stock market upticked slightly Tuesday morning as Greece inched towards the default deadline on its loan to the International Monetary Fund.The S&P/TSX composite index moved ahead 18.70 points to 14,508.85 shortly after open, while the loonie traded at 80.34 cents US, down 0.36 of a U.S. cent.Traders appeared mostly unfazed by the looming midnight cutoff in Greece, which suggests that at this point few expect an outcome any more negative than is already being anticipated.Wall Street suffered its worst session of the year on Monday while the Toronto stock market faced a similarly deep plunge — the worst since dropping almost 361 points on Jan. 5.The Dow Jones Industrial average rose 59.49 points to 17,655.84, while the Nasdaq moved up 27.87 points to 4,986.33 and the S&P 500 picked up 8.49 points to 2,066.13.Oil prices made some advancement, with the August contract lifting 32 cents to US$58.65 a barrel while the August gold contract fell $8.40 to US$1,170.60 an ounce.Statistics Canada reported the latest real GDP figures, showing that Canada's economy was pulled down 0.1 per cent in April, affected by weakness in the mining and energy sectors.