By MarketsFarm
WINNIPEG, May 13 (MarketsFarm) – The Canadian dollar was stronger on Friday, recovering from the 18-month lows hit the previous session as gains in crude oil underpinned the energy-linked currency.
The Canadian dollar closed at US$0.7720 or US$1=C$1.2953 on Friday, which compares with Thursday’s North American close of US$0.7669 or US$1=C$1.3039.
Ideas that a European ban on Russian oil imports would lead to tightening supplies helped crude oil move higher ahead of the weekend. West Texas Intermediate crude oil was up by 4.08 per cent, at US$110.48 per barrel.
While inflationary fears weighed on the global appetite for risk over the past week, North American equity markets were generally higher on Friday – seeing a bit of a correction.
The TSX Composite Index was stronger, up 400.76 points, or 2.03 per cent, to close at 20,099.81 points.
Canada’s agricultural sector performed as follows:
Buhler Ind.———————-dn $ 0.06 at $ 2.49
Linamar Corp.——————–up $ 3.17 at $ 51.59
Maple Leaf Foods—————–up $ 1.35 at $ 28.14
Nutrien Ltd.———————up $ 3.45 at $127.88
Ritchie Bros Auctioneers Inc.—-up $ 3.14 at $ 79.96
Farmers Edge Inc.—————-dn $ 0.31 at $ 2.50
(All figures are in Canadian dollars.)
