By Fergal Smith
(Reuters) -Canada’s main stock index rose on Tuesday, helped by higher oil prices and a sharp increase in the shares of Gildan Activewear, but the index’s gains were kept in check by uncertainty ahead of an interest rate decision by the U.S. Federal Reserve.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 23.4 points, or 0.1%, at 21,860.58, moving closer to a near two-year high it notched last Wednesday at 21,970.11.
“Energy is strong. Oil prices are grinding higher above 80 dollars and we’re heading toward the summer driving season in the United States,” said Brian Madden, chief investment officer at First Avenue Investment Counsel Inc.
The energy sector added 0.5% as the price of oil settled 0.9% higher at $83.47 a barrel, with traders assessing how Ukraine’s recent attacks on Russian refineries would affect global petroleum supplies.
The consumer discretionary sector climbed 1.6%, led by a…
