Canadian Financial Close: Loonie up with oil and TSX

By Commodity News Service Canada

WINNIPEG, Jan. 25 (CNS) – The Canadian dollar was stronger at market close Friday, supported by gains in the price of oil and the stock market.

The Canadian dollar settled Friday at US$0.7544 or C$1.3256, compared to Thursday’s North American close of US$0.7490 or C$1.3351.

Oil prices rose Friday, as political turmoil in Venezuela threatened to tighten crude supply. United States West Texas Intermediate crude gained 64 U.S. cents to US$53.77 per barrel. Brent crude futures added 61 U.S. cents to US$61.70 per barrel.

Gold prices were up Friday, as the value of the American dollar declined. Spot gold was up 1.4 per cent to US$ 1,298.48 per ounce.

In Toronto, the S&P/TSX Composite closed higher Friday. The S&P/TSX gained 85.27 points, or 0.56 per cent, to 15,366.05.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients———up $ 0.01 at $ 16.73
Buhler Industries—————-unchanged at $ 3.66
Linamar Corp.——————–up $ 2.33 at $ 51.17
Maple Leaf Foods—————–up $ 0.19 at $ 29.66
Nutrien Ltd.———————up $ 0.32 at $ 68.37
Ritchie Bros Auctioneers Inc.——up $ 0.03 at $ 47.95
Rocky Mountain Dealerships Inc.—-up $ 0.03 at $ 8.71
(All figures are in Canadian dollars.)

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