Canadian Financial Close: Canadian dollar loses half cent as stocks, oil prices fall

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By Commodity News Service Canada

WINNIPEG, Feb. 7 (CNS Canada) – The Canadian dollar was down at market close Thursday along with the North American stock markets and the prices for crude oil.
The dollar finished Thursday at US$0.7527 or US$1=C$1.3285, which compares with Wednesday’s close of US$0.7582 or C$1.3190.
The S&P/TSX Composite Index was down 8.95 points to finish Thursday at 15,703.36 points.
The major United States stock markets were also down Thursday, with the Dow Jones having dropped 220.77 points to close at 25,169.53 points. The NASDAQ lost 86.93 points to end trading at 7,288.35 points and the S&P 500 slipped 25.56 points to finish at 2,706.05 points.

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Comments on Thursday by U.S. President Donald Trump regarding upcoming trade talks with China fueled Thursday’s losses. Trump said he likely won’t meet with Chinese President Xi Jinping before the March 1 end of the truce between the two countries. A meeting between Trump and Xi was to be seen as the end of the U.S./China trade war. However, negotiations involving high-level officials are scheduled to resume in Beijing on Feb. 11.
Oil prices were down on Thursday amid fears of a global economic slowdown, which would reduce demand. West Texas Intermediate crude oil was down US$1.39 cents to close at US$52.62 per barrel. Brent crude oil lost 98 cents to close at US$61.71 per barrel.

Gold was down US$8.80 on Thursday to US$1,313.60 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients———unchanged at $ 17.86
Buhler Industries—————-unchanged at $ 3.61
Linamar Corp.——————–dn $ 0.09 at $ 52.07
Maple Leaf Foods—————–up $ 0.02 at $ 29.99
Nutrien Ltd.———————up $ 1.07 at $ 69.51
Ritchie Bros Auctioneers Inc.—-dn $ 0.13 at $ 48.36
Rocky Mountain Dealerships Inc.–dn $ 0.17 at $ 9.08

(All figures are in Canadian dollars.)