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Canadian Financial Close: Plenty of green in markets

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Glacier FarmMedia MarketsFarm – The Canadian dollar gained some ground on Wednesday.

The loonie closed at US$0.7342 or US$1=C$1.3809, compared to US$0.7220 or US$1=C$1.3851 on Tuesday.

The United States Dollar Index dropped half of a point at 104.05. The U.S. Federal Reserve announced on Wednesday it was leaving its key interest rates unchanged, but suggested a rate cut was imminent.

Crude oil prices jumped on Wednesday due to declining U.S. stockpiles and the death of a Hamas leader after a missile strike in Tehran. Brent crude oil rose US$2.09 at US$80.72 per barrel. West Texas Intermediate (WTI) jumped US$3.76 at US$78.49/barrel.

The TSX/S&P Composite Index added 286.14 points at 23,110.81 on the strength of a tech rally to close above the 23,000-point mark for the first time ever.

Gold surged US$41.20 at US$2,493.10 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.03

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 1.82     at $ 68.87

Maple Leaf Foods                 up  $ 0.11     at $ 25.21

Nutrien Ltd.                     up  $ 0.51     at $ 70.81

RB Global Inc.                   up  $ 0.03     at $109.99

(All figures are in Canadian dollars.)