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At the open: Stocks higher as normal trading resumes

The screens at the TMX Broadcast Centre in Toronto are pictured on on Wednesday, July 11, 2012.

Matthew Sherwood/The Globe and Mail

The Toronto stock market is positive and New York exchanges have reopened for business after Superstorm Sandy forced a two-day shutdown of U.S. financial markets.

The S&P/TSX composite index gained 34.52 points to 12,411.57, led by gains in mining stocks as commodity prices advanced.

The Canadian dollar gave up 0.15 of a cent to 99.92 cents US after Statistics Canada reported that gross domestic product edged down 0.1 per cent in August. It was the first monthly decline since February 2012. A 0.2 per cent rise had been expected.

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U.S. markets were higher with the Dow Jones industrials ahead 54.3 points to 13,161.51, the Nasdaq was unchanged at 2,987.95 and the S&P 500 index was ahead 5.13 points to 1,417.07.

Wall Street experts had feared another delay might lead to a dangerous backlog of customer orders to buy and sell stock. The NYSE is relying on backup generators because power is out in much of downtown Manhattan.

Oil rose 64 cents to US$86.32 a barrel.

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