Canadian Financial Close: Loonie unchanged, TSX surges

WINNIPEG – The Canadian dollar remained unchanged on Thursday, but was still below 78 United States cents.

The loonie closed at US$0.7795 or US$1=C$1.2828, the same value as on Wednesday, despite the ever-strengthening U.S. greenback.

The U.S. Dollar Index gained 0.66 of a point at 103.62 after hitting 103.93 earlier in the day, the highest level since November 2002.

A strong push by the European Union to ban Russian oil products and a global diesel supply crunch supported crude oil prices. Brent crude oil gained US$2.24 per barrel at US$107.56. West Texas Intermediate (WTI) crude oil jumped US$3.32 at US$105.34/barrel. Meanwhile, Western Canadian Select (WCS) advanced US$3.21 to US$92.28.

The TSX/S&P Composite Index made a major rise on Thursday thanks to high-performing energy and technology stocks, gaining 376.83 points to 21,121.06.

Gold added US$7.90 per ounce to US$1,896.60.

Canada’s agricultural sector fared as follows:

Buhler Ind. unchanged at $ 2.55
Farmer’s Edge Inc. dn $ 0.05 at $ 2.60
Linamar Corp. up $ 2.31 at $ 51.51
Maple Leaf Foods up $ 0.43 at $ 28.06
Nutrien Ltd. up $ 0.07 at $129.70
Ritchie Bros Auctioneers Inc. up $ 1.04 at $ 72.17

(All figures are in Canadian dollars.)