TSX Near All-time Highs, Keystone Gooses Oil Patch -- Canadian Commentary

(RTTNews) - Canadian stocks rose Thursday amid speculation the North American economy will thrive in U.S. president Donald Trump's low regulatory environment.

The S&P/TSX Composite Index added 33.15 to 15,643.84, coming near record highs before levelling off mid-day.

Energy stocks have been strengthened by Trump's pledge to revive the controversial Keystone pipeline.

The Obama administration had previously denied approval for the final segment of the Keystone XL pipeline in 2015 after years of exhaustive study and delays.

Revival of the $6.1 billion Keystone project was one of the promises Trump made during election campaign to increase domestic energy production.

Gold prices fell Wednesday, slipping from 10-week highs as the Dow Jones Industrial Average surged above 20,000 for the first time ever.

Gold stocks lost 2 percent.

Bombardier Inc.(BBD_A.TO) said Nico Buchholz will assume a new role of SVP, Strategic Initiatives.

Barrick Gold (ABX.TO) announced production of 5.52 million ounces for 2016, at the high end of their guidance of 5.25-5.55 million ounces.

CN Rail (CN.TO) increased its dividend morning after reporting strong fourth quarter revenues.

The company said the revenue increase was due in part to higher volumes of Canadian grains and U.S. soybeans. CN shares were down 2.5 percent.