Canadian Financial Close: Huawei CFO’s arrest leads to rough Friday for stocks

By Commodity News Service Canada

WINNIPEG, Dec. 7 (CNS Canada) – The Canadian dollar was up at market close Friday.
The dollar closed at US$0.7519 or US$1=C$1.3299, which compares with Thursday’s close of US$0.7460 or C$1.3404.
The S&P/TSX Composite Index closed Friday at 14,795.13 down by 141.87 points.
The major United States stock markets also incurred losses on Friday with the continuing issue of Huawei Chief Financial Officer Meng Wanzhou facing fraud charges in the U.S. for allegedly violating sanctions against Iran. The S&P 500 was down 2.33 per cent, the DOW dropped 2.24 per cent and Nasdaq fell 3.05 per cent.

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Meng was arrested in Canada and is facing extradition to the U.S. The legal against her threatens to heat up the U.S./China trade war.
Oil was up Friday as West Texas Intermediate crude oil increased by 83 cents to close at US$52.32 per barrel.
Gold was up Friday by US$10.60 to US$1,250.30 per ounce.

Canada’s agricultural sector faired as follows:

AGT Food and Ingredients———dn $ 0.03 at $ 17.40
Buhler Industries—————-unchanged at $ 3.60
Linamar Corp.——————–dn $ 0.59 at $ 46.34
Maple Leaf Foods—————–dn $ 0.45 at $ 28.32
Nutrien Ltd.———————dn $ 2.75 at $ 66.31
Ritchie Bros Auctioneers Inc.—-dn $ 0.18 at $ 44.36
Rocky Mountain Dealerships Inc.–dn $ 0.07 at $ 8.58

(All figures are in Canadian dollars.)