Canadian Financial Close: Loonie, TSX surge

Glacier FarmMedia MarketsFarm – The Canadian dollar made a jump to go over 74 United States cents on Thursday.

The loonie closed at US$0.7422 or US$1=C$1.3474, compared to US$0.7392 or US$1=C$1.3528 on Wednesday. The Bank of Canada (BoC) announced on Wednesday it will leave its key interest rate unchanged at five per cent. Statistics Canada (StatCan) reported earlier today that the country recorded a C$496 million merchandise trade surplus in January.

The U.S. Dollar Index fell 0.55 of a point at 102.82.

Crude oil prices made slight declines. Brent crude oil was down US$0.16 at US$82.80 per barrel. West Texas Intermediate (WTI) shed US$0.23 at US$78.90/barrel.

The TSX/S&P Composite Index rose 200.60 points at 21,794.56.

Gold added US$7.60 at US$2,165.80 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.17

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 7.27     at $ 70.82

Maple Leaf Foods                 up  $ 0.17     at $ 23.02

Nutrien Ltd.                     up  $ 1.42     at $ 72.33

RB Global Inc.                   up  $ 0.75     at $102.06

(All figures are in Canadian dollars.)