By MarketsFarm
WINNIPEG, Nov. 9 (MarketsFarm) – The Canadian dollar was higher at Monday’s close, hitting two-year highs on the coattails of promising news of a COVID-19 vaccine.
The dollar finished the day at US$0.7710 or US$1=C$1.2970, compared to Friday when it closed at US$0.7669 or US$1=C$1.3039.
Canada’s main stock index gained approximately 1.2 per cent on the day following an announcement from Pfizer showing positive early results for their COVID-19 vaccine. The TSX Composite Index was up by 193.03 points on the day, closing at 16,475.86.
The vaccine news also bolstered crude oil prices, as oil producers pin their hopes on renewed global demand. West Texas Intermediate (WTI) was up by US$2.93 to close at US$40.07. Brent Crude gained US$2.81 at US$42.26.
Canada’s agricultural sector fared as follows:
Buhler Int. unchanged at $ 2.25
Linamar Corp. up $ 1.40 at $ 47.47
Maple Leaf Foods up $ 0.07 at $ 25.21
Nutrien Ltd. up $ 1.35 at $ 53.26
Ritchie Bros Auctioneers Inc. dn $ 7.48 at $ 90.83
Rocky Mountain Dealerships Inc. unchanged at $ 6.96
(All figures are in Canadian dollars.)
