By MarketsFarm
WINNIPEG, Nov. 7 (MarketsFarm) – The Canadian dollar was steady at market close on Thursday, as gains in the Toronto Stock Exchange outweighed lower prices for Canadian crude oil.
The loonie finished the day at US$0.7590 or US$1=C$1.3176, which compares with Wednesday’s close of US$0.7588 or C$1.3179.
Gains were made in the stock markets on the news that the United States agreed to China’s request that tariffs levied against each other will be rolled back in phases.
The TSX/S&P Composite Index was up 60.11 on Thursday to close at 16,805.75 points, following the lead of markets in the U.S.
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With a gain of 8.40 the S&P 500 reached a new all-time high of 3,085.18 points. The Dow Jones increased 182.24 to close at 27,674.80 points and the NASDAQ was up 23.89 to finish at 8,434.52 points.
World benchmark oil prices were slightly higher Thursday on positive trade sentiments. Brent crude oil was up 41 cents to close at US$62.15 per barrel, while West Texas Intermediate (WTI) rose 67 cents to close at US$57.02 per barrel. However, Western Canadian Select crude slipped 80 cents at US$34.09 per barrel.
Gold fell on Thursday by US$21.91, closing at US$1,468.70 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.60
Linamar Corp. up $ 2.25 at $ 45.83
Maple Leaf Foods dn $ 0.05 at $ 23.12
Nutrien Ltd. up $ 0.32 at $ 64.97
Ritchie Bros Auctioneers Inc. up $ 0.12 at $ 54.84
Rocky Mountain Dealerships Inc. dn $ 0.05 at $ 6.41
(All figures are in Canadian dollars.)
