Canadian Financial Close: Loonie falls despite oil gains

By Commodity News Service Canada

WINNIPEG, Dec. 8 – The Canadian dollar fell slightly at
close Friday, despite rises in the price of oil and the stock
market.

Oil prices climbed almost two per cent Friday, supported by
rising Chinese crude demand and threats of a strike in Africa’s
largest oil exporter nation, Nigeria. Brent crude rose US$1.20
this week, or 1.9 per cent, to US$63.40 per barrel.

The Canadian dollar settled Friday at US$0.7776 or
C$1.2860, compared to Thursday’s North America close of
US$0.7786 or C$1.2843.

In Toronto, the S&P/TSX Composite Index rose to a two-week
high Friday, led by financial and industrial shares after
investor sentiment got a boost from solid United States jobs
data while energy and mining stocks climbed on higher commodity
prices. The S&P/TSX gained 80.39 points, or 0.05 per cent, to
16,096.07.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.19 at $ 20.28
Agrium Incorporated———-up $ 0.37 at $136.49
Buhler Industries————unchanged at $ 4.60
Maple Leaf Foods————-unchanged at $ 35.56
Potash Corp. of Sask———up $ 0.03 at $ 24.33

(All figures are in Canadian dollars.)