Canada’s main stock index moved higher as the election of a conservative government in Alberta helped to support the energy sector despite lower crude prices, says a market observer.

The S&P/TSX composite index closed up 42.04 points at 16,544.24.

In New York, the Dow Jones industrial average was down 3.12 points at 26,449.54. The S&P 500 index was down 6.61 points at 2,900.45, while the Nasdaq composite was down 4.15 points at 7,996.08.

The Canadian dollar traded at an average of US75.01¢ compared with an average of US74.84¢ on Tuesday.

The June crude contract was down 32¢ at US$63.87 per barrel and the May natural gas contract was down 5.5¢ at US$2.52 per mmBTU.

The June gold contract was down 40¢ at US$1,276.80 an ounce and the May copper contract was up 3.7¢ at US$2.97 a pound.