Canadian Financial Close: Loonie, crude oil still rising

WINNIPEG – The Canadian dollar spent part of the day above 74 United States cents, as the loonie reached its highest level since Aug. 15.

The loonie closed on Thursday at US$0.7399 or US$1=C$1.3515, compared to US$0.7380 or US$1=C$1.3551 on Wednesday.

The U.S. Dollar Index was up 0.56 of a point at 105.33.

Supply curbs from Saudi Arabia and Russia as well as record demand led crude oil to surge on Thursday. Brent crude oil rose US$2.17 at US$94.15 per barrel. West Texas Intermediate (WTI) surpassed the US$90/barrel mark for the first time since November, jumping US$2.03 to US$90.55/barrel.

The TSX/S&P Composite Index advanced 288.90 points to 20,567.84.

Gold declined US$1.10 at US$1,931.40 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.33

Farmer’s Edge Inc.               up  $ 0.01     at $  0.19

Linamar Corp.                    dn  $ 0.28     at $ 66.62

Maple Leaf Foods                 up  $ 0.36     at $ 28.19

Nutrien Ltd.                     up  $ 1.70     at $ 87.03

Ritchie Bros Auctioneers Inc.    up  $ 0.40     at $ 88.07

(All figures are in Canadian dollars.)