Canadian Financial Close: Loonie slightly weaker on Wednesday

By MarketsFarm

WINNIPEG, April 8 (MarketsFarm) – The Canadian dollar was lower at midweek.
The dollar finished the day at US$0.7126 or US$1=C$1.4034, compared to Tuesday when it closed at US$0.7150 or US$1=C$1.3986.

Global financial markets were stronger due to optimism stoked by another round of stimulus packages from governments following the COVID-19 pandemic.

The TSX Composite Index was up by 311.57 points to close at 13,925.71.

Oil prices were stronger on the eve of a meeting between the Organization of Petroleum Exporting Countries (OPEC) to discuss coordinated production cuts. Brent crude oil gained US$1.65 to close at US$26.17 per barrel. West Texas Intermediate (WTI) crude oil was up by $2.54 to close at US$26.17 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries                dn  $ 0.05     at $  2.90
Linamar Corp.                    up  $ 1.13     at $ 32.69
Maple Leaf Foods                 dn  $ 1.26     at $ 24.02
Nutrien Ltd.                     up  $ 1.33     at $ 50.23
Ritchie Bros Auctioneers Inc.    up  $ 2.20     at $ 53.19
Rocky Mountain Dealerships Inc.  dn  $ 0.02     at $  4.18

(All figures are in Canadian dollars.)

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