Canadian Financial Close: TSX hits 7-month high

By Commodity News Service Canada

WINNIPEG, Oct. 11 – The Canadian dollar finished relatively
unchanged compared to the American greenback following the
release of minutes from the last U.S. Federal Reserve meeting
that showed more agreement within the organization for another
interest rate increase by year’s end. However, those sentiments
were tempered by concerns over sagging inflation. The Canadian
dollar closed today at US$0.8001 or C$1.2498 per US$1. It closed
yesterday at US$0.79999 or C$1.2501 per US$1.
Kevin Brady, a U.S. Republican congressman and chair of the

Congressional ways and means committee, told Prime Minister
Justin Trudeau that the U.S. wants more access to Canada’s dairy
markets under a renegotiated North American Free Trade
Agreement.
The S&P/TSX jumped 30.04 points (0.19%) today to end the
day at 15,800.40, a new high mark for the past 71/2 months. Shares
of Pretium Resources, which recently announced positive third
quarter results for its Brucejack gold mine in northwestern
British Columbia, and gains in the financial services sector
lead the gains.
Oil prices remained mostly steady today, as Saudi Arabia
said it boosted its oil production in September over August and
OPEC forecast higher demand for 2018. WTI crude gained 38 cents
U.S. (0.75%) to close at US$51.30 per barrel.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.46 at $ 22.76
Agrium Incorporated———-up $ 0.47 at $132.72
Buhler Industries————dn $ 0.26 at $ 4.33
Maple Leaf Foods————-dn $ 0.10 at $ 34.33
Potash Corp. of Sask———up $ 0.015 at $ 23.775

(All figures are in Canadian dollars.)

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