By MarketsFarm
WINNIPEG, Dec. 27 (MarketsFarm) – The Canadian dollar finished the week on a high note, jumping by nearly half a cent when markets re-opened following the Christmas holiday.
The dollar finished the day at US$0.7646 or US$1=C$1.3078, compared to Tuesday when it closed at US$0.7601 or US$1=C$1.3157.
United States stock indexes finished the week strong, nearing record highs with only a few days left in 2019. On the year, the S&P 500 Index advanced by almost 30 per cent. Benchmarks for U.S. equities were boosted by strong holiday-season revenue, driven largely by e-commerce sales, according to Bloomberg.
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The TSX Composite Index closed lower by 11.94 points at 17,168.21. The S&P 500 was unchanged to close at 3,240.02. The Dow Jones was up by 23.87 to finish at 28,645.26. The NASDAQ was down 15.77 to finish at 9,006.62.
Benchmark oil prices were at three-month highs ahead of the weekend. The Energy Information Administration reported that oil inventories fell by 5.47 million barrels. Oil values are up by about 12 per cent on the month due to improved trade relations between the U.S. and China, though their trade deal has not officially been inked yet. Brent crude oil was 71 cents higher, closing at US$64.91 per barrel. West Texas Intermediate (WTI) crude oil was up by 60 cents to close at US$59.78 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.07 at $ 2.93
Linamar Corp. up $ 0.02 at $ 49.31
Maple Leaf Foods dn $ 0.06 at $ 25.86
Ritchie Bros Auctioneers Inc. dn $ 0.54 at $ 56.66
Rocky Mountain Dealerships Inc. dn $ 0.04 at $ 6.36
(All figures are in Canadian dollars.)
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