By Commodity News Service Canada
WINNIPEG, January 28 – The Canadian dollar gained more ground against its US counterpart Thursday. Stronger oil prices led the way upwards as rumours swirled that Russia and OPEC may agree to cut output by 5%.
The Canadian dollar closed at US$0.7118 or US$1 = C$1.4048.
The TSX posted solid gains Thursday as equities and industrial stocks enjoyed higher oil prices. All five major banks advanced at least 2.5%.
The S&P/TSX Composite Index rose 214.16 points, or 1.7%, to 12,591.93.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.55 at $ 34.82
Agrium Incorporated———-up $ 1.63 at $122.07
Buhler Industries————– $ 0.00 at $ 5.00
Maple Leaf Foods————-up $ 0.12 at $ 22.45
Potash Corp. of Sask———up $ 0.28 at $ 21.72
(All figures are in Canadian dollars.)
