Canadian Financial Close: Loonie closes lower on Tuesday

By MarketsFarm

WINNIPEG, Sept. 29 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, along with losses in the stock market.

The dollar finished the day at US$0.7468 or US$1=C$1.3391, compared to Monday when it closed at US$0.7475 or US$1=C$1.3378.

A recent survey showed a large percentage of Canadian doctors are concerned flu vaccine demand will outpace availability come flu season, which may put an additional strain on public health resources already grappling with the COVID-19 pandemic. South of the 49th parallel, market participants are appraising stimulus package proposals from Congress and awaiting the results of the first presidential debate tonight.

The TSX Composite Index lost 31.29 points to close at 16,211.52.

Benchmark crude oil prices were weaker on the day following reports of weak global demand. West Texas Intermediate (WTI) was down US$1.59 to close at US$39.01. Brent Crude was down US$1.65 at US$40.78.

Canada’s agricultural sector fared as follows:

Buhler Int.  dn $ 0.10     at $ 2.29
Linamar Corp.                    up $ 0.46     at $ 39.77
Maple Leaf Foods                 dn $ 0.23     at $ 27.76
Nutrien Ltd.                     dn  $ 1.83     at $ 51.55
Ritchie Bros Auctioneers Inc.    up  $ 1.31     at $ 79.22
Rocky Mountain Dealerships Inc.  unchanged     at $  5.25

(All figures are in Canadian dollars.)

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