By MarketsFarm
WINNIPEG, Feb. 28 (MarketsFarm) – The Canadian dollar lost more than one-third of a cent at market close on Friday, as fear regarding the COVID-19 coronavirus continued its stranglehold on the markets.
The loonie finished the day at US$0.7447 or US$1=C$1.3429, which compares with Thursday’s close of US$0.7484 or C$1.3361.
Benchmark crude oil prices were weaker again on Friday, as the central fear surrounding the coronavirus has been decreased demand.
Brent crude oil dropped US$1.66 at US$50.52 per barrel, and West Texas Intermediate (WTI) fell US$1.94 at US$45.15 per barrel. Western Canadian Select lost US$1.46 to close at US$31.11 per barrel.
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The TSX/S&P Composite Index sank 454.39 points to finish the day at 16,263.05, which could push the TSX into correction territory.
In the United States, the Dow Jones lost 355.72 to end the week at 25,410.92 points, and the S&P 500 was down 24.61 to close at 2,954.20 points. Meanwhile the NASDAQ finished flat with a small gain of 0.89 of a point to finish at 8,567.37.
Gold plummeted US$64.70 on Friday to close at US$1,580.32 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.04
Linamar Corp. dn $ 0.78 at $ 36.92
Maple Leaf Foods dn $ 0.22 at $ 22.38
Nutrien Ltd. up $ 0.38 at $ 54.25
Ritchie Bros Auctioneers Inc. dn $ 1.68 at $ 53.23
Rocky Mountain Dealerships Inc. unchanged at $ 6.10
(All figures are in Canadian dollars.)
