Canadian Financial Close: Dollar stronger on Wednesday

By MarketsFarm

WINNIPEG, Dec. 2 (MarketsFarm) – The Canadian dollar was slightly stronger at Wednesday’s close, remaining around highs for the year.

The dollar finished the day at US$0.7731 or US$1=C$1.2934, compared to Tuesday when it closed at US$0.7721 or US$1=C$1.2952.

The S&P 500 was stronger on Wednesday, spurred by gains in energy markets to close at record highs. The S&P 500 gained 6.56 points to close at 3,669.01. Canada’s benchmark indicator, the TSX, closed up by 61.28 points at 17,358.21.

Benchmark crude oil indices were slightly stronger on the day, following indications that the Organization of Petroleum Exporting Countries and its allies (OPEC+) are close to a deal to continue output cuts. West Texas Intermediate (WTI) was up by 68 cents to close at US$45.23. Brent Crude gained 79 cents at US$48.21.
Canada’s agricultural sector fared as follows:

Buhler Int.                  unchanged      at $ 2.50
Linamar Corp.                    up $ 1.60     at $ 64.55
Maple Leaf Foods                 up $ 0.76     at $ 27.25
Nutrien Ltd.                     dn  $ 0.17     at $ 63.30
Ritchie Bros Auctioneers Inc.    dn  $ 0.04     at $ 89.91
Rocky Mountain Dealerships Inc.  dn $ 0.04     at $  7.12

(All figures are in Canadian dollars.)

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