TSX Inches Higher On Modest But Widespread Gains -- Canadian Commentary

(RTTNews) - Canadian stocks eked out modest gains Monday, with gauges of most sectors in the green ahead of Wednesday's Federal Reserve monetary policy decision in the US.

The S&P/TSX Composite Index was up 45.54 points, or 0.32 percent, 14,496.23.

Energy stocks crept higher amid reports that OPEC and Iran will curb output in order to stabilize the market.

"We had a long bilateral meeting with [Iran's president Hassan] Rouhani. We're close to a deal between OPEC producer countries and non-OPEC," Venezuelan President Nicolas Maduro told a news conference at the end of a a summit of the Non-Aligned Movement.

October WTI oil settled at $43.30/bbl on Nymex, up 27 cents, or 0.6%.

The leader of Canadian union Unifor reportedly said thousands of factory employees will strike at two General Motors Co. plants if the sides miss a Monday night deadline for a new contract.

Progress has reportedly been made towards a deal.

Meanwhile, TMX Group (TMX.TO) said it had not been removed from the S&P/TSX Index.

Publisher Torstar Corp agreed to sell the former printing plant of the Toronto Star for about C$54.3 million. Shares rose 3 percent.