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Canadian Financial Close: Loonie closes higher on Monday

By MarketsFarm

WINNIPEG, Oct. 19 (MarketsFarm) – The Canadian dollar was slightly stronger on Monday, despite a negative tone for global financial markets and weakness in crude oil.

The dollar finished the day at US$0.75976 or US$1=C$1.3165, compared to Friday when it closed at US$0.7580 or US$1=C$1.3192.

Global stock indices were broadly lower ahead of the U.S. Presidential election, as talks of an economic stimulus package remain stalled. Over the weekend, some legislators made comments suggesting the possibility of COVID-19 pandemic aid before Nov. 3.

The TSX Composite Index lost 164.68 points to close at 16,274.07.

Benchmark crude oil prices were slightly lower following a meeting between the Organization of Petroleum Exporting Countries and its allies (OPEC+). West Texas Intermediate (WTI) was down by 23 cents to close at US$40.65. Brent Crude was down 49 cents at US$42.44.

Canada’s agricultural sector fared as follows:

Buhler Int.  unchanged      at $ 2.49
Linamar Corp.                    up $ 0.13     at $ 45.50
Maple Leaf Foods                 dn $ 0.07     at $ 24.84
Nutrien Ltd.                     dn  $ 0.22     at $ 52.76
Ritchie Bros Auctioneers Inc.    dn  $ 2.28     at $ 82.47
Rocky Mountain Dealerships Inc.  dn  $ 0.05     at $  5.60

(All figures are in Canadian dollars.)

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