Canadian Financial Close: Chaotic lead up to U.S./China trade talks

By Commodity News Service Canada

WINNIPEG, Jan. 28 (CNS Canada) – The Canadian dollar was virtually unchanged at market close Monday.
The dollar finished the day at US$0.7541 or US$1=C$1.3260, which compares with Friday’s close of US$0.7544 or C$1.3256.
The S&P/TSX Composite Index closed Monday with a gain of 12.57 points at 15,378.62 points.
But the major United States stock markets were down Monday as investors have lost confidence in this week’s U.S./China trade talks. The Dow Jones dropped 209.86 points to finish the day at 24,527.34 points, the NASDAQ fell 79.18 points to 7,085.68 points and the S&P 500 slid 20.96 points to close at 2,643.80 points.

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As high-level trade talks are set to begin in Washington, D.C. on Wednesday, China took a shot at the U.S. on Monday accusing it of blocking the appointment of judges to the World Trade Organization. Meanwhile the U.S. government, in a news conference late Monday afternoon, accused Chinese technology giant Huawei of stealing robot technology from T-Mobile.
Oil was down on Monday as West Texas Intermediate crude oil lost US$1.52 to close at US$52.17 per barrel.
Gold was up by US$5.10 on Monday to US$1,303.20 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients———up $ 0.02 at $ 16.75
Buhler Industries—————-unchanged at $ 3.66
Linamar Corp.——————–dn $ 1.31 at $ 49.86
Maple Leaf Foods—————–dn $ 0.52 at $ 29.14
Nutrien Ltd.———————dn $ 0.02 at $ 68.35
Ritchie Bros Auctioneers Inc.—-up $ 0.02 at $ 47.97

Rocky Mountain Dealerships Inc.–dn $ 0.01 at $ 8.70

(All figures are in Canadian dollars.)