Canadian Financial Close: Loonie rises with crude oil

Glacier FarmMedia | MarketsFarm – The Canadian dollar jumped to start the week, approaching the 72 United States cent mark.

The loonie was at US$0.7197 or US$1=C$1.3894, compared to US$0.7178 or US$1=C$1.3932 on Friday. The United States Dollar Index was down 0.37 of a point at 103.91.

Crude oil rose on Monday after OPEC+ announced it was delaying its planning production hike until January and Iran threatened a “strong and complex” attack against Israel. West Texas Intermediate (WTI) gained US$2.24 at US$71.73 per barrel. Brent crude oil advanced US$2.25 at US$75.35/barrel.

The TSX/S&P Composite Index only added 0.90 of a point at 24,256.06.

Gold declined US$3.80 per ounce at US$2,745.40.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.45

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.31     at $ 56.30

Maple Leaf Foods                 up  $ 0.28     at $ 21.62

Nutrien Ltd.                     up  $ 3.06     at $ 70.56

RB Global Inc.                   dn  $ 0.09     at $118.70

(All figures are in Canadian dollars.)