Canadian Financial Close: TSX Advances Behind US Economic Data

By Commodity News Service Canada

WINNIPEG, February 26 – The Canadian dollar finished higher against its US counterpart Friday, as investors covered short positions.

As oil prices remained under pressure a growing number of stakeholders in the US began voicing queries about whether production should be cut to support prices, reports said.

The Canadian dollar closed at US$0.7400 or US$1 = 1.3514.

The Standard & Poor’s/TSX Composite Index posted gains to end the week, as new data showing solid economic growth in the US buoyed the bank sector. The market largely shrugged off weaker oil prices and a 13% drop in mineral company Goldcorp’s stock.

The S&P/TSX Composite Index advanced 44.85 points, or 0.35%, to 12,798.45.

Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.56 at $ 36.03
Agrium Incorporated———-up $ 2.81 at $116.99
Buhler Industries————– $ 0.00 at $ 5.03
Maple Leaf Foods————-dn $ 0.23 at $ 22.90
Potash Corp. of Sask———up $ 0.45 at $ 23.12

(All figures are in Canadian dollars.)