Canadian Financial Close: Loonie adds some more value
Rising crude oil provides spillover
By Glen Hallick
Glacier Farm Media|MarketsFarm – The Canadian dollar increased slightly on Wednesday, pushed upward by rising crude oil prices as a stronger United States dollar limited those gains.
The loonie closed at US$0.7412 or US$1=C$1.3491, compared to Tuesday’s finish of US$0.7405 or US$1=C$1.3504. On the U.S. Dollar Index, the greenback advanced 0.414 of a point at 101.345.
Benchmark crude oil prices continued higher on Wednesday, fueled by growing Middle East tensions. Brent crude oil rose US$1.11 at US$74.67 per barrel and West Texas Intermediate climbed US$1.13 at US$70.96.
The TSX Composite Index slipped 32.44 points on Wednesday to close at 24,001.55.
Gold lost US$9.60 at US$2,680.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.40 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.95 at $ 63.78 Maple Leaf Foods up $ 0.11 at $ 22.21 Nutrien Ltd. up $ 0.76 at $ 67.26 RB Global Inc. up $ 0.05 at $107.99
(All figures are in Canadian dollars)
