By Commodity News Service Canada
WINNIPEG, July 27 (CNS) – Toronto’s S&P/TSX composite index rode the roller coaster today, making gains early, based on strong financial news by several large companies, but then slid back down to end slightly up, with a gain of 19.97 points (0.13%) at 15,191.36.
The exchange’s early gains were driven by strong financial reports by Barrick, Cenovus Energy and Maple Leaf Foods, which all posted strong quarterly financial figures that exceeded analysts’ expectations.
The S&P 500 fell 2.41 points (0.10%) to close at 2,475.42. The Dow Jones gained 85.54 points (0.39%) to close at 21,796.55 and the Nasdaq lost 40.56 (0.63%) to end the day at 6,382.19.
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In currency markets, the Canadian dollar stayed steady against its U.S. counterpart. The loonie closed at US$0.7987 or C$1.2520 per US$1, compared to the previous day’s close of US$0.7996 (C$1.2505 per US$1.
The federal government’s infrastructure bank advisory group, designed to fast-track projects once Ottawa gets its infrastructure bank up and running, has prepared evaluations for projects that may qualify for funding. The Liberal government plans to allow the infrastructure bank to access as much as C$35 billion in public funds to leverage three to four times more than that in private funds for infrastructure projects around the country.
WTI crude continued to climb, posting an increase of 37 cents U.S. today, or 0.76%, to close at US$49.12.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.13 at $ 25.99
Agrium Incorporated———-up $ 1.23 at $124.33
Buhler Industries————dn $ 0.01 at $ 4.15
Maple Leaf Foods————-up $ 1.36 at $ 34.14
Potash Corp. of Sask———up $ 0.26 at $ 22.22
(All figures are in Canadian dollars.)
