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Canadian Financial Close: Loonie lifted by crude oil

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Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger on Thursday, largely due to rising crude oil prices.

As of 3:42 p.m. CST, the loonie was at US$0.7425 or US$1=C$1.3468, compared to US$0.7416 or US$1=C$1.3484 on Wednesday. The United States Dollar Index was up 0.26 of a point at 103.49.

Crude oil prices jumped on Thursday due to a large draw in U.S. stockpiles and new economic stimulus to China. Brent crude oil rose US$2.28 at US$82.32 per barrel. West Texas Intermediate (WTI) surged US$2.08 at US$77.17/barrel.

The TSX/S&P Composite Index was up 75.76 points at 21,101.54.

Gold added US$3.90 at US$2,019.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.23

Farmer’s Edge Inc.               unchanged      at $  0.34

Linamar Corp.                    up  $ 0.30     at $ 64.06

Maple Leaf Foods                 dn  $ 0.53     at $ 26.25

Nutrien Ltd.                     dn  $ 1.11     at $ 68.08

RB Global Inc.                   up  $ 0.32     at $ 83.61

(All figures are in Canadian dollars.)