Canadian Financial Close: Trade talk optimism boosts loonie, crude oil

By MarketsFarm

WINNIPEG, Oct. 10 (MarketsFarm) – The Canadian dollar was higher at market close on Thursday, as crude oil saw good increases.

The loonie finished the day at US$0.7522 or US$1=C$1.3294, which compares with Wednesday’s close of US$0.7505 or C$1.3324.

Benchmark oil prices were higher on Thursday due to optimism surrounding United States/China trade talks.

Brent crude oil was up USS$1.00 to close at US$59.32 per barrel, while West Texas Intermediate crude oil gained US$1.23 to close at US$53.82 per barrel. Western Canadian Select crude jumped US$1.79 at US$37.85 per barrel.

The TSX/S&P Composite Index was up 42.80 points on Thursday to close at 16,422.68 points, following the lead set by U.S. markets, which were up on trade talk hopes.

The Dow Jones rose 150.66 to finish the day at 26,496.67. The NASDAQ gained 47.04 to end at 7,950.78 points. The S&P 500 was up 18.73 to end at 2,938.13.

The price of gold was down US$12.59 on Thursday to close at US$1,493.06 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 3.60
Linamar Corp. up $ 0.29 at $ 39.14
Maple Leaf Foods dn $ 0.33 at $ 29.23
Nutrien Ltd. up $ 0.37 at $ 66.12
Ritchie Bros Auctioneers Inc. up $ 0.21 at $ 52.67
Rocky Mountain Dealerships Inc. dn $ 0.10 at $ 7.10
(All figures are in Canadian dollars.)


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