Canadian Financial Close: Canadian dollar gains on Thursday

By MarketsFarm

WINNIPEG, Oct. 17 (MarketsFarm) – The Canadian dollar was slightly stronger on Thursday, boosted by strong crude oil values.

The dollar finished the day at US$0.7609 or US$1=C$1.3143, compared to Wednesday when it closed at US$0.7575 or US$1=C$1.3201

United States stocks finished mostly higher due to a spate of positive third-quarter financial reports. Investors are carefully eying the United Kingdom’s upcoming exit from the European Union for potential market volatility. The U.K and E.U. said they had agreed on a withdrawal plan, but Northern Ireland may not agree to it.

The TSX Composite Index closed slightly lower by 0.88 points at 16,426.30. The S&P 500 gained 8.26 to close at 2,997.95. Similarly, the Dow Jones increased by 23.90 points to finish at 27,025.88. The NASDAQ was up 32.67 to finish at 8,156.85.

Benchmark oil prices were stronger due to lowered U.S. fuel inventories, with further gains capped by a rise in crude stockpiles. Brent crude oil was up by 48 cents to close at US$59.90 per barrel. West Texas Intermediate (WTI) crude oil was up by 66 cents to close at US$54.02 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries unch at $ 3.60
Linamar Corp. up $ 0.14 at $ 42.65
Maple Leaf Foods up $ 1.07 at $ 30.17
Nutrien Ltd. dn $ 0.71 at $ 64.53
Ritchie Bros Auctioneers Inc. up $ 0.23 at $ 52.21
Rocky Mountain Dealerships Inc. up $ 0.01 at $ 6.90

(All figures are in Canadian dollars.)

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