Loonie lifted by inflation data, TSX hits second consecutive record high

The Canadian dollar soared on news that the country's annual inflation rate accelerated to 2.1 per cent last month, as the Toronto stock index set another record high.

The loonie closed at an average trading price of 78.53 cents US, up 0.66 of a US cent after Statistics Canada said its inflation reading for November came in hotter than the 1.4 per cent number for October.

The S&P/TSX composite index was up 22.96 points to 16,182.63, led by gains in the energy and health-care sectors.

In New York, the Dow Jones industrial average was up 55.64 points to 24,782.29.

The S&P 500 index added 5.32 points to 2,684.57 and the Nasdaq composite index was up 4.40 points to 6,965.36.

The February crude contract was up 27 cents to $58.36 US per barrel and the January natural gas contract was down four cents to $2.60 US per mm BTU.

The February gold contract added one dollar to $1,270.60 US an ounce and the March copper contract was up two cents to $3.22 US a pound.