Canadian Financial Close: Loonie closes stronger
Greenback falls below 100 points
By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar continued its upward swing on Friday, climbing almost two-thirds of a cent and just short of 72 U.S. cents.
The loonie closed Friday at US$0.7199 or US$1=C$1.3890, compared to Thursday’s finish of US$0.7135 or US$1=C$1.4015. On the United States Dollar Index, the greenback fell 0.955 of a point at 99.655.
Benchmark crude oil prices turned around to climb higher on Friday, after U.S. Energy Secretary Chris Wright suggested the U.S. could block Iran’s oil exports if the Middle Eastern country does not agree to discuss its nuclear program.
Brent crude gained US$1.43 at US$64.76 per barrel and West Texas Intermediate added US$1.50 at US$61.57.
The TSX Composite Index increased 572.93 points, or 2.49 per cent on Friday, closing at 23,587.80. Also, the Dow Jones rose 1.56 per cent, the S&P 500 climbed 1.81 per cent and the Nasdaq increased 2.06 per cent.
Gold advanced US$74.80 at US$3,252.30.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 7.29 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. up $ 0.27 at $ 47.68 Maple Leaf Foods up $ 0.47 at $ 23.65 Nutrien Ltd. up $ 3.43 at $ 71.00 RB Global Inc. up $ 2.35 at $134.88
(All figures are in Canadian dollars)
