Canadian Financial Close: Loonie holds firm
Crude surges as Iran launches missiles at Israel
By Glen Hallick
Glacier Farm Media|MarketsFarm – The Canadian dollar was relatively steady on Tuesday, as increases in its United States counterpart and sharp upticks in crude oil virtually balanced off each other.
The loonie closed at US$0.7405 or US$1=C$1.3504, compared to Friday’s finish of US$0.7408 or US$1=C$1.3499. On the U.S. Dollar Index, the greenback added 0.419 of a point at 100.940.
Benchmark crude oil prices turned around to climb higher on Tuesday, after Iran launched numerous ballistic missiles at Israel following the latter’s invasion of Lebanon. Earlier in the day, prices were lower due to growing supplies and tepid global demand.
Brent crude oil jumped US$2.36 at US$74.06 per barrel and West Texas Intermediate advanced US$2.22 at US$70.39.
The TSX Composite Index nudged up 33.62 points on Tuesday to close at 24,033.99.
Gold rose US$20.50 at US$2,679.90 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 $ 0.27 at $ 62.83 Maple Leaf Foods dn $ 0.05 at $ 22.10 Nutrien Ltd. up $ 1.51 at $ 66.50 RB Global Inc. dn $ 0.91 at $107.94
(All figures are in Canadian dollars)
