Canadian Financial Close: Loonie follows TSX, gold to downside
By Commodity News Service Canada
WINNIPEG, Feb. 21 (CNS Canada) – The Canadian dollar was down at market close on Thursday, with gold pushing the Toronto Stock Exchange downward.
The dollar finished Thursday at US$0.7578 or US$1=C$1.3196, which compares with Wednesday’s close of US$0.7594 or C$1.3169.
The S&P/TSX Composite Index was down 30.38 points to finish Thursday at 16.000.86 points.
Bank of Canada Governor Stephen Poloz indicated in a speech in Montreal on Thursday that the central bank’s benchmark interest rate is low enough and future increases are uncertain. Poloz is scheduled to make an announcement regarding interest rates on March 6.
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Canadian Finance Minister Bill Morneau announced yesterday he will present the federal Liberal government’s budget on March 19. Heading into an election this fall, the budget is expected to include a new prescription drug program and assistance for young home buyers.
Benchmark oil prices were down slightly on Thursday. West Texas Intermediate crude oil was slipped 30 cents to close at US$56.86 per barrel. Brent crude oil lost 13 cents to close at US$66.95 per barrel.
Gold fell US$21.30 on Thursday to US$1,326.60 per ounce.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients———unchanged at $ 17.86
Buhler Industries—————-up $ 0.05 at $ 3.67
Linamar Corp.——————–up $ 0.33 at $ 51.55
Maple Leaf Foods—————–dn $ 0.43 at $ 29.23
Nutrien Ltd.———————dn $ 0.12 at $ 71.60
Ritchie Bros Auctioneers Inc.—-up $ 0.08 at $ 48.24
Rocky Mountain Dealerships Inc.–dn $ 0.03 at $ 8.95
(All figures are in Canadian dollars.)
