Canadian Financial Close: Loonie dips with commodities

By Commodity News Service Canada

WINNIPEG, June 19 – The Canadian dollar ticked lower against its US counterpart on Monday, tracking losses in crude oil, natural gas and gold bullion. The loonie hung in a narrow range for the majority of the day, reflecting an absence of any domestic data releases.

The loonie ended Monday at US$0.7564 cents or C$1.3220, compared to Friday’s close of US$0.7557 or C$1.3232.

Investors will be watching on Friday when Blackberry is scheduled to release its quarterly earnings report.

In Toronto, the S&P/TSX Composite Index rose 73.50 points, or 0.5%, to 15,266.04. The market took strength from gains in the tech sector and discretionary companies.

Hudson’s Bay Co. soared 15.1% after speculation rose the company’s assets could be sold to help pay down debt.

Home Capital chalked up gains as well. The company finished 3.8% higher on ideas an outside group could be thinking of a take-over.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.87 at $ 24.47
Agrium Incorporated———-dn $ 0.51 at $123.72
Buhler Industries————up $ 0.01 at $ 4.22
Maple Leaf Foods————-dn $ 0.16 at $ 32.91
Potash Corp. of Sask———dn $ 0.06 at $ 22.10

(All figures are in Canadian dollars.)

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