Canadian Financial Close: Chinese Market Woes Weigh Down TSX

By Commodity News Service Canada

WINNIPEG, January 7 – The Canadian dollar continued to lurch around in a bearish fashion Thursday, touching lows it hadn’t seen since 2003. The steep drop in Chinese equities weighed down the loonie which has already been hit hard by declining crude oil prices.

The Canadian dollar closed at US$0.7094 or US$1 = C$1.4097.

The TSX recorded substantial losses Thursday as energy and base metal stocks crumbled under international economic pressure. Crude oil and copper prices were also pushed lower by growing concerns over Chinese economic growth.

The S&P/TSX Composite Index lost 278.59 points, or 2.19, to 12,448.21.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.10 at $ 34.02
Agrium Incorporated———-dn $ 2.58 at $118.19
Buhler Industries————– $ 0.00 at $ 5.44
Maple Leaf Foods————-dn $ 0.67 at $ 22.76
Potash Corp. of Sask———up $ 0.02 at $ 22.77

(All figures are in Canadian dollars.)