Canadian Financial Close: Loonie sinks against US dollar

By Commodity News Service Canada

WINNIPEG, April 19 – The Canadian dollar continued to drop
against its US counterpart, following weakness in crude oil
prices and the narrowing of yield spreads.
The US$/C$ pairing has broken out of its consolidative
range, according to a report.
The Canadian dollar closed at US$0.7418 or C$1.3480,
compared to Tuesday’s close of US$0.7473 or C$1.3381.
The S&P/TSX Composite Index dropped on Wednesday, weighed
down by weakness in the mining sector.

Barrick Gold fell 3.4% on the day. Analysts said the
company’s failure to sell a mine in Australia to a Chinese group
spearheaded the move lower.
The index declined 69.69 points, or 0.50%, to 15,552.88.
Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–dn $ 1.15 at $ 29.56
Agrium Incorporated———-up $ 0.45 at $123.46
Buhler Industries————dn $ 0.13 at $ 4.62
Maple Leaf Foods————-dn $ 0.06 at $ 32.20
Potash Corp. of Sask———dn $ 0.07 at $ 22.12

(All figures are in Canadian dollars.)

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