By Commodity News Service Canada
WINNIPEG, May 2 – The Canadian dollar inched higher against
its US counterpart on Monday.
The loonie shrugged off mild losses in crude oil, taking
strength from gains in the gold sector.
The Canadian dollar closed at US$0.7977 or US$1=C$1.2536,
which compares with Friday’s close of US$0.7969, or
US$1=C$1.2549.
The Standard & Poor’s/TSX Composite Index suffered losses
Monday, tracking weakness in mining, banking and energy
companies, according to a report.
One of the lone bright spots of the day was an announcement
by Bell Canada that it was acquiring Manitoba Telecom Services
in a friendly C$3.1 billion deal. MTS Inc. advanced 15% to its
highest point in eight years.
The S&P/TSX Composite Index declined 85.82 points, or
0.60%, to 13,865.63.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.23 at $ 40.33
Agrium Incorporated———-dn $ 0.31 at $107.81
Buhler Industries————– $ 0.00 at $ 4.81
Maple Leaf Foods————-up $ 0.79 at $ 26.77
Potash Corp. of Sask———dn $ 0.32 at $ 21.88
(All figures are in Canadian dollars.)
