Canadian Financial Close: Loonie falls as stock market volatility continues

By Commodity News Service Canada

WINNIPEG, Feb. 8 – The Canadian dollar fell slightly
Thursday as volatility in the stock market and as drop in the
price of oil weighed it down.

The Canadian dollar settled Thursday at US$0.7946 or
C$1.2585, compared to Wednesday’s North American close of at
US$0.7971 or C$1.2546.

Oil prices hit their lowest levels in seven weeks Thursday,
amid fears of rising global supplies after Iran announced plans
to increase production and the United States crude output hit

record highs. Brent crude fell 70 cents to US$64.81 per barrel.

Wall Street took a tumble Thursday as there were large
swings throughout the session, leaving investors on edge after
several days of volatile trading. Major indexes fell more than
three per cent in late afternoon trading as U.S. bond yields
earlier crept back up toward four-year highs.

In Toronto, the TSX/S&P Composite crumbled Thursday,
closing at its lowest point in nearly five months as a sell-off
on Wall Street deepened and as a drop in oil prices hit energy
shares. The TSX/S&P fell 265.03 points, or 1.73 per cent, to
15,065.55.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–dn $ 0.88 at $ 19.99
Buhler Industries————unchanged at $ 4.15
Maple Leaf Foods————-dn $ 0.38 at $ 33.79
Nutrien Ltd.—————–dn $ 1.76 at $ 56.93

(All figures are in Canadian dollars.)

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