WINNIPEG, Oct. 1 (MarketsFarm) – The Canadian dollar was stronger on Thursday, inching above 75 United States cents.
The dollar finished the day at US$0.7523 or US$1=C$1.3292, compared to Wednesday when it closed at US$0.7497 or US$1=C$1.3339.
The Canadian government has announced a C$10 billion three-year infrastructure plan that will aim to create jobs and stimulate the economy following the COVID-19 pandemic. The money comes from a C$25 billion fund managed by Canada Infrastructure Bank, which has ben criticized for doing little since its inception in 2017.
The TSX Composite Index gained 63.16 points to close at 16,184.54.
Benchmark crude oil prices were lower due to concerns of weak global demand. West Texas Intermediate (WTI) was down US$1.53 to close at US$38.69. Brent Crude was down US$1.43 at US$40.87.
Canada’s agricultural sector fared as follows:
Buhler Int. unchanged at $ 2.26
Linamar Corp. up $ 0.64 at $ 40.25
Maple Leaf Foods dn $ 0.12 at $ 27.03
Nutrien Ltd. dn $ 1.62 at $ 50.59
Ritchie Bros Auctioneers Inc. up $ 1.47 at $ 80.44
Rocky Mountain Dealerships Inc. dn $ 0.04 at $ 5.20
(All figures are in Canadian dollars.)