Canadian Financial Close: Loonie firms with BoC decision

By Commodity News Service Canada

WINNIPEG, July 13 – The Canadian dollar strengthened against its American counterpart on Wednesday. The loonie was supported by the Bank of Canada’s decision to keep its overnight policy rate untouched at 0.5%.

The Canadian dollar closed at US$0.7701 or US$1=C$1.2986, which compares with Tuesday’s close of US$0.7675, or US$1=C$1.3030.

The TSX eked out minor gains on the day.

Energy stocks were hit hard by slumping oil prices but those were mostly offset by gains in gold.

The S&P/TSX Composite Index added 16.13 points, or 0.1%, to close at 14,493.80.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–dn $ 0.60 at $ 34.40
Agrium Incorporated———-up $ 1.62 at $120.56
Buhler Industries————up $ 0.10 at $ 4.85
Maple Leaf Foods————-dn $ 0.57 at $ 28.40
Potash Corp. of Sask———up $ 0.85 at $ 21.90

(All figures are in Canadian dollars.)