Canadian Financial Close: TSX underpinned by Enbridge deal

By Commodity News Service Canada

WINNIPEG, September 6 – The Canadian dollar finished higher
against its US counterpart Tuesday, taking strength from last
week’s US labour data which was considered bearish.
However, weakness in energy prices could be a precursor to
downside trouble in the coming days, according to a trader.
The Canadian dollar closed at US$0.7784 or US$1=C$1.2847,
which compares with Friday’s close of US$0.7695, or
US$1=C$1.2995. (North American markets were closed Monday for
Labour Day).
The S&P/TSX Composite Index finished higher on the back of
rising gold prices.
The market also received support from Enbridge’s
announcement that it has agreed to buy Spectra Energy in a $28
billion deal.
Losses in banking and industrials limited the gains.
The index rose 17.29 points, or 0.12%, to close at
14,812.99.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.14 at $ 37.03
Agrium Incorporated———-dn $ 3.91 at $123.72
Buhler Industries————up $ 0.09 at $ 4.85
Maple Leaf Foods————-up $ 0.11 at $ 29.24
Potash Corp. of Sask———dn $ 0.64 at $ 22.72

(All figures are in Canadian dollars.)