Canadian Financial Close: Loonie declines watching global bonds

By Commodity News Service Canada

WINNIPEG, June 10 – The Canadian dollar suffered modest
losses Friday as traders looked for safe havens amid a drop in
global bond yields.
Government bonds in Germany, Japan and the UK fell to
record lows this week, partially as a result of lower oil prices
along with global economic uncertainty.
A rise in Canada’s unemployment rate added to the bearish
tone.
The Canadian dollar closed at US$0.7839 or US$1=C$1.2757,
which compares with Thursday’s close of US$0.7866, or
US$1=C$1.2713.
The Standard & Poor’s/TSX Composite Index dropped to end
the week, as fears over large global oil supplies spurred a drop
in energy stocks.
Suncor, Canada’s largest energy company, fell 2.3%, while
Canadian Natural Resources fell 3.9%, according to a report.
The S&P/TSX Composite index declined 202.48 points, or
1.42%, to 14,037.54.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.08 at $ 35.43
Agrium Incorporated———-dn $ 0.66 at $119.76
Buhler Industries————– $ 0.00 at $ 4.91
Maple Leaf Foods————-dn $ 0.63 at $ 28.47
Potash Corp. of Sask———dn $ 0.18 at $ 21.69

(All figures are in Canadian dollars.)