Canadian Financial Close: Loonie holds firm
Doesn't take advantage of weaker greenback, stronger crude oil
By Glen Hallick
Glacier Farm Media|MarketsFarm – The Canadian dollar was essentially unchanged on Thursday, despite favourable movements in the United States dollar and in crude oil.
The loonie closed at US$0.7358 or US$1=C$1.3591, compared to Wednesday’s finish of US$0.7359 or US$1=C$1.3589. On the U.S. Dollar Index, the greenback lost 0.397 of a point at 100.910.
Benchmark crude oil prices increased on Thursday, as Hurricane Francine forced the closure of oil production facilities in and along the Gulf of Mexico, reducing the region’s output by more than 40 per cent.
Brent crude oil was up US$1.58 at US$72.19 per barrel and West Texas Intermediate advanced US$1.87 at US$69.18.
The TSX Composite Index rose 263.97 points on Thursday to close at 23,475.14.
Gold jumped US$44.30 at US$2,586.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.40 Farmers Edge Inc. unchanged at $ 0.345 Linamar Corp. dn $ 0.53 at $ 59.84 Maple Leaf Foods up $ 0.05 at $ 21.89 Nutrien Ltd. up $ 0.76 at $ 62.71 RB Global Inc. up $ 0.49 at $115.31
(All figures are in Canadian dollars)
