Canadian Financial Close: Loonie, crude oil advance

Glacier FarmMedia | MarketsFarm – The Canadian dollar closed above the 72 United States cent mark for the first time since November.

The loonie ended the day at US$0.7204 or US$1=C$1.3881, compared to US$0.7199 or US$1=C$1.3890 on Friday. Statistics Canada reported earlier today that wholesale trade in February, excluding petroleum, oilseeds and grains, rose 0.3 per cent to C$85.7 billion. Sales in machinery, equipment and supplies gained 7.1 per cent for the month at C$19 billion, while motor vehicles, parts and accessories posted the largest decrease, falling 3.1 per cent at C$14.3 billion.

The United States Dollar Index saw the greenback lose 0.49 of a point at 99.62.

Crude oil prices showed small gains on greater demand from China and tariff exemptions for electronics. Brent crude oil increased US$0.21 at US$64.97 per barrel. West Texas Intermediate added US$0.13 at US$61.63/barrel.

The TSX/S&P Composite Index advanced 278.73 points at 23,866.53.

Gold shed US$16.60 per ounce at $3,228.00.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.53     at $ 48.21

Maple Leaf Foods                 up  $ 0.44     at $ 24.09

Nutrien Ltd.                     up  $ 1.29     at $ 72.29

RB Global Inc.                   up  $ 0.80     at $135.68

(All figures are in Canadian dollars.)