Canadian Financial Close: TSX hits 7-month high

Posted

By Commodity News Service Canada


WINNIPEG, Oct. 11 – The Canadian dollar finished relatively

unchanged compared to the American greenback following the

release of minutes from the last U.S. Federal Reserve meeting

that showed more agreement within the organization for another

interest rate increase by year’s end. However, those sentiments

were tempered by concerns over sagging inflation. The Canadian

dollar closed today at US$0.8001 or C$1.2498 per US$1. It closed

yesterday at US$0.79999 or C$1.2501 per US$1.

Kevin Brady, a U.S. Republican congressman and chair of the

Congressional ways and means committee, told Prime Minister

Justin Trudeau that the U.S. wants more access to Canada’s dairy

markets under a renegotiated North American Free Trade

Agreement.

The S&P/TSX jumped 30.04 points (0.19%) today to end the

day at 15,800.40, a new high mark for the past 71/2 months. Shares

of Pretium Resources, which recently announced positive third

quarter results for its Brucejack gold mine in northwestern

British Columbia, and gains in the financial services sector

lead the gains.

Oil prices remained mostly steady today, as Saudi Arabia

said it boosted its oil production in September over August and

OPEC forecast higher demand for 2018. WTI crude gained 38 cents

U.S. (0.75%) to close at US$51.30 per barrel.


Canada’s agricultural sector performed as follows:


AGT Food and Ingredients—–up $ 0.46 at $ 22.76

Agrium Incorporated———-up $ 0.47 at $132.72

Buhler Industries————dn $ 0.26 at $ 4.33

Maple Leaf Foods————-dn $ 0.10 at $ 34.33

Potash Corp. of Sask———up $ 0.015 at $ 23.775


(All figures are in Canadian dollars.)