Canadian Financial Close: Loonie gains

By Commodity News Service Canada

WINNIPEG, Sept. 2 (CNS Canada) – The Canadian dollar was stronger near close on Friday, gaining the most in five weeks with support from bullish trade data and advances in crude oil.

Canada’s exports increased 3.4 per cent to C$42.7 billion in July, Statistics Canada said in a report.

Crude oil futures had gained close to three per cent on Friday, buoyed by a weaker greenback.

The US dollar lost ground as jobs data came in below analyst-expectations.

The Canadian dollar was at US$0.7695 or US$1=C$1.2995 as of 2:45 CDT on Friday, which compares with Thursday’s close of US$0.7642, or US$1=C$1.3086.

The S&P/TSX Composite Index was stronger at 2:45 CDT on Friday, gaining 112.0 points, or 0.76 per cent, at 14,795.89.

Canada’s agricultural sector faired as follows, prices as of 2:45 CDT:

AGT Food and Ingredients—–dn $ 0.01 at $ 36.66

Agrium Incorporated———-up $ 1.46 at $128.10

Buhler Industries———— $ 0.00 at $ 4.76

Maple Leaf Foods————-dn $ 0.07 at $ 29.17

Potash Corp. of Sask———up $ 0.13 at $ 23.46

(All figures are in Canadian dollars.)