TSX Inches Higher Despite Energy Weakness -- Canadian Commentary

(RTTNews) - Canadian stocks nudged higher Tuesday despite weakness in the energy sector, as traders bet the Federal Reserve will keep interest rates on hold tomorrow.

The Bank of Japan makes a monetary policy decision overnight.

The S&P/TSX Composite Index was up 39.59 points at 14,535.73, a few minutes ahead of the closing bell.

Energy stocks lost 0.8 percent. A top OPEC official who downplayed the possibility of a deal between major producers to curb output.

Refering to an upcoming meeting: "It is an informal meeting, it is not a decision-making meeting," Secretary-General Mohammed Barkindo said, according to Algerian state media.

Nov. WTI oil gained 19 cents, or 0.4%, to settle at $44.05/bbl on Nymex.

Oct. WTI oil settled at $43.44/bbl on expiration day, up 14 cents, or 0.3%.