Canadian Financial Close: Loonie slightly weaker on Thursday

By MarketsFarm

WINNIPEG, May 21 (MarketsFarm) – The Canadian dollar was lower on Thursday due to a myriad of negative economic factors, including rising unemployment in the United States. The total number of Americans out of work is over 38 million.

The dollar finished the day at US$0.7176 or US$1=C$1.3935, compared to Wednesday when it closed at US$0.7198 or US$1=C$1.3893.

Stocks were lower on Thursday, giving back some gains made earlier in the week. The TSX Composite Index was down 112.78 points to close at 14,884.85. The S&P 500 lost 23.10 points to close at 2,948.51. The Dow Jones Industrial Average was down by 101.78 points at 24,474.12. The NASDAQ decreased 90.90 to finish at 9,284.88.

Benchmark crude oil prices were slightly higher, carrying on gains from earlier in the week. West Texas Intermediate (WTI) was up by 50 cents to close at US$33.99. Brent Crude was up by 36 cents at US$36.11.

Canada’s agricultural sector fared as follows:

Buhler Industries                unchanged      at $  2.64
Linamar Corp.                    up  $ 0.42     at $ 36.43
Maple Leaf Foods                 dn  $ 0.08     at $ 25.81
Nutrien Ltd.                     up  $ 0.65     at $ 45.49
Ritchie Bros Auctioneers Inc.    dn  $ 0.85     at $ 55.94
Rocky Mountain Dealerships Inc.  up $ 0.06     at $  4.35

(All figures are in Canadian dollars.)

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