By Commodity News Service Canada
Oct. 25 (CNS Canada) — After posting significant declines yesterday, the Canadian dollar slowed its losses early this morning. It was at US$0.76444, or C$1.3081 at 8:19 a.m. CDT. It closed Oct. 24 at US$0.7675, or C$1.3029. The dollar has held steady overall for the past five days, with a slight increase of 0.04 per cent.
The S&P/TSX composite, was showing early gains this morning, following its worst one-day decline in three years yesterday. It was up 81.94 points, or 0.55 per cent at 14,991.07.
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Stock markets in Asia fell sharply overnight, following the Dow Jones Industrial Index steep fall of 608 points yesterday. However, the three major U.S. exchanges — S&P 500, Dow Jones and Nasdaq all rose on early trading today.
Canadian meat packer Maple Leaf Foods reported a 29.3 per cent decline in quarterly profits. It cited low pork prices as the reason. For the third quarter, ended Sept. 30, Maple Leaf reported adjusted EBITA (earnings before interest, taxes, amortization) at 9.3 per cent. Sales fell in the quarter to C$87.8 million, down 3.7 per cent, while adjusted earnings per share decreased 25.6 per cent to C$0.29 compared to the same quarter last year.
West Texas Intermediate (WTI) crude oil was at US$66.90 per barrel, up eight U.S. cents.
