By MarketsFarm
WINNIPEG, Feb. 27 (MarketsFarm) – The Canadian dollar was lower at market close on Thursday, hitting a six-month low, as COVID 19 coronavirus fears continued to dominate and drove the markets down.
The loonie finished the day at US$0.7484 or US$1=C$1.3361, which compares with Wednesday’s close of US$0.7531 or C$1.3279.
Benchmark crude oil prices were weaker on Thursday, falling to their lowest levels in a year due to coronavirus fears curtailing demand.
Brent crude oil fell US$1.84 at US$51.59 per barrel, and West Texas Intermediate (WTI) tumbled US$2.10 at US$46.63 per barrel. Western Canadian Select lost US$1.89 to close at US$32.57 per barrel.
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The TSX/S&P Composite Index was down 324.48 points to finish the day at 16,717.44. The TSX ceased trading early on Thursday due to a technical issue.
In the United States, losses on the stock markets were around four per cent. The Dow Jones plummeted 1,047.62 points to end the day at 25,909.67. The NASDAQ sank 369.15 to close at 8,611.62 points, and the S&P 500 dropped 121.44 to finish at 2,994.95 points.
Gold as well was down, with a slight loss of US$1.88 on Thursday to close at US$1,639.09 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.09 at $ 3.04
Linamar Corp. dn $ 0.31 at $ 37.70
Maple Leaf Foods dn $ 1.07 at $ 22.60
Nutrien Ltd. dn $ 0.01 at $ 53.87
Ritchie Bros Auctioneers Inc. dn $ 0.28 at $ 54.91
Rocky Mountain Dealerships Inc. dn $ 0.18 at $ 6.10
(All figures are in Canadian dollars.)
