By MarketsFarm
WINNIPEG, May 6 (MarketsFarm) – The Canadian dollar lost slightly at Monday’s close, as stock performances took a tumble.
The Canadian dollar closed at US$.7432 or US$1=C$1.3456, down from Friday’s close of US$.7447 or US$1=C$1.3429.
The S&P/TSX Composite Index lost 0.97 points to close at 16,493.46.
The NASDAQ closed down, losing 40.71 at 8,123.29 points. The Dow Jones lost 66.47 points to close at 26,438.48. The S&P 500 Index was up down by 13.17 points, closing at 2,932.47 points.
Financial markets were shaken by United States President Donald Trump’s tweets, threatening to raise tariffs on Chinese imports. The tweets come just days before Chinese delegates are scheduled to arrive in Washington. Experts believe Chinese Vice Premier Liu He will not make the trip, despite being the country’s lead negotiator.
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Following announcements of tightening U.S. sanctions on Iranian oil, Iran is positioned to sell its resource on the “grey market,” according to Al Jazeera. Amir Hossein Zamaninia, Iran’s deputy oil minister, said Iran will continue to export oil despite the US sanctions, which he said were neither just nor legitimate. West Texas Intermediate gained 71 cents to hit US$62.65 per barrel, and Brent Crude oil gained 70 cents to hit US$71.55 per barrel.
Canada’s agricultural sector fared as follows:
AGT Food and Ingredients——-up $ 0.04 at $ 17.99
Buhler Industries————–unch at $ 3.61
Linamar Corp ——————up $ 0.33 at $ 48.10
Maple Leaf Foods—————dn $ 0.65 at $ 33.76
Nutrien Ltd. ——————dn $ 0.93 at $ 71.64
Ritchie Bros Auctioneers Inc.–dn $ 0.04 at $ 46.55
Rocky Mountain Dealership Inc.-dn $ 0.04 at $ 8.73
(All figures are in Canadian dollars.)
