By Commodity News Service Canada
WINNIPEG, Feb. 28 – The Canadian dollar closed lower
Wednesday as the stock market tumbled.
The Canadian dollar settled Wednesday at US$0.7807 or
C$1.2809, compared to Tuesday’s North American close of
US$0.7849 or C$1.2740.
Oil prices fell more than two per cent Wednesday after the
United States government said crude inventories rose more than
expected. U.S. crude inventories increased by three million
barrels last week, instead of the analysts’ predictions of 2.1
million barrels. Brent crude fell US$1.28 to US$65.78 per
barrel.
In Toronto, the TSX/S&P Composite closed lower Wednesday,
pulled down by energy shares which fell along with the price of
oil. Valeant Pharmaceuticals shares dropped after the company
gave a weaker-than-expected revenue forecast. The TSX/S&P
dropped 228.57 points, to 1.46 per cent, to 15,442.58.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.13 at $ 19.36
Buhler Industries————unchanged at $ 4.07
Maple Leaf Foods————-dn $ 0.36 at $ 32.24
Nutrien Ltd.—————–up $ 0.16 at $ 63.20
(All figures are in Canadian dollars.)
