Canadian Financial Close: Markets track crude oil lower

By Commodity News Service Canada

WINNIPEG, March 18 – The Canadian dollar slipped against its US counterpart on Friday, tracking losses in crude oil. A new report that showed a rise in drilling rig activity put many investors on the retreat.

The Canadian dollar closed at US$0.7670 or US$1 = 1.3037 on Friday.

The Standard & Poor’s/TSX Composite Index closed lower as oil prices pushed down both equities and Toronto’s energy group. Despite the malaise brought on by strength in the crude oil sector, advancing issues outpaced declines 855 to 735, according to a report.

The S&P/TSX Composite Index declined 124.17 points, or 0.91%, to 13,497.13.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.56 at $ 36.25
Agrium Incorporated———-up $ 1.24 at $120.14
Buhler Industries————– $ 0.00 at $ 4.86
Maple Leaf Foods————-dn $ 0.08 at $ 27.00
Potash Corp. of Sask———dn $ 0.12 at $ 24.66

(All figures are in Canadian dollars.)