Canadian Financial Close: Loonie moving upwards, crude oil weaker

Glacier FarmMedia MarketsFarm – The Canadian dollar moved above the 74 United States cent mark on Monday.

The loonie was at US$0.7402 or US$1=C$1.3510, compared to US$0.7372 or US$1=C$1.3565 on Friday. The U.S. Dollar Index was up 0.14 of a point at 100.86.

Crude oil was down on Monday after Iranian president Masoud Pezeshkian told reporters outside the United Nations building in New York City the country is not seeking a wider war in the Middle East. West Texas Intermediate (WTI) declined US$0.47 at US$70.53 per barrel. Brent crude oil dropped US$0.45 at US$74.04/barrel.

The TSX Composite Index gained 27.34 points at 23,894.71.

Gold added US$6.40 at US$2,652.60 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.40

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.35     at $ 63.34

Maple Leaf Foods                 dn  $ 0.25     at $ 21.69

Nutrien Ltd.                     up  $ 0.25     at $ 64.12

RB Global Inc.                   dn  $ 0.55     at $113.93

(All figures are in Canadian dollars.)