Canadian Financial Close: C$, TSX Weighed Down By Crude Oil

By Commodity News Service Canada

WINNIPEG, January 11 – The Canadian dollar posted losses against its US counterpart Monday, as tumbling oil prices continued to stop any positive momentum the loonie has been able to muster. According to the Bank of Canada, the bearish oil market has caused weakness in the commodity sector and the impact is spreading.

The Canadian dollar closed at US$0.7031 or US$1 = C$1.4223.

The TSX fell lower Monday as declining oil prices tipped over the energy and materials groups, which fell 4% and 3.7% percent respectively.

The S&P/TSX Composite Index lost 126.20 points, or 1.01%, to 12,319.25.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.03 at $ 33.60
Agrium Incorporated———-dn $ 0.63 at $116.53
Buhler Industries————dn $ 0.20 at $ 5.14
Maple Leaf Foods————-up $ 0.01 at $ 22.98
Potash Corp. of Sask———dn $ 0.83 at $ 21.96

(All figures are in Canadian dollars.)