Canadian Financial Close: Oil jumps but loonie remains steady
Rising Middle East tensions like to price hike
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was virtually unchanged on Thursday, despite sharp upticks in crude oil prices.
The Canadian dollar closed at US$0.7426 or US$1=C$1.3467, compared to Wednesday’s finish of US$0.7424 or US$1=C$1.3469. On the U.S. Dollar Index, the greenback inched up 0.093 of a point at 104.010.
Benchmark crude oil prices jumped on Thursday, after the U.S. military killed a top Iran-backed militia leader and Israel rejected a Hamas ceasefire proposal.
Brent crude oil advanced US$2.64 at US$81.85 per barrel, and West Texas Intermediate gained US$2.71 at US$76.57.
The TSX Composite Index slipped 49.54 points to close Thursday at 20,919.64.
Gold was down US$3.70 at US$2,048.00 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.22 Farmers Edge Inc. unchanged at $ 0.34 Linamar Corp. dn $ 0.65 at $ 66.69 Maple Leaf Foods dn $ 0.31 at $ 25.91 Nutrien Ltd. dn $ 0.91 at $ 66.00 RB Global Inc. up $ 0.67 at $ 91.50
(All figures are in Canadian dollars)
