By MarketsFarm
WINNIPEG, Nov. 16 (MarketsFarm) – The Canadian dollar was stronger on Monday, due to widespread market optimism towards a COVID-19 vaccine.
The dollar finished at US$0.7642 or US$=C$1.3085 compared to Friday’s close of US$0.7606 or US$1=C$1.3147.
Moderna Inc. released preliminary test results that showed their experimental vaccine scored a 94.5 per cent efficacy rating.
Benchmark crude oil prices were higher on Monday also on that positive sentiment.
Brent crude oil rose US$1.12 at US$43.90 per barrel. West Texas Intermediate (WTI) crude oil gained US$1.25 at US$41.38 per barrel. Meanwhile, Western Canadian Select (WCS) crude slipped back 31 cents at US$31.85 per barrel.
The TSX Composite Index was up 214.17 points on Monday to finish at 16,889.81.
Gold was nudged upward 33 cents in choppy trading to US$1,889.53 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.25
Linamar Corp. up $ 2.04 at $ 60.21
Maple Leaf Foods up $ 0.25 at $ 25.74
Nutrien Ltd. up $ 1.67 at $ 56.78
Ritchie Bros Auctioneers Inc. dn $ 1.41 at $ 82.79
Rocky Mountain Dealerships Inc. unchanged at $ 7.00
(All figures are in Canadian dollars.)
