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Canadian Financial Close: Loonie edges over 75 U.S. cents

By MarketsFarm

WINNIPEG, Aug. 11 (MarketsFarm) – The Canadian dollar finished over 75 United States cents on Tuesday, despite weakness in financial markets.

The dollar finished the day at US$0.7524 or US$1=C$1.3291, compared to Monday when it closed at US$0.7488 or US$1=C$1.3354.

Losses in U.S. stock indices were led by poor performances in the tech sector, as ride-sharing giants Lyft and Uber have been ordered to treat their California-based drivers as employees as opposed to independent contractors.

The TSX Composite Index dropped by 108.5 points to close at 16,497.01.

Benchmark crude oil prices took a dip after hitting three-week highs yesterday. West Texas Intermediate (WTI) was down 40 cents to close at US$41.54. Brent Crude was down 50 cents at US$44.49.

Canada’s agricultural sector fared as follows:

Buhler Int.  dn $ 0.18     at $  2.61
Linamar Corp.                    up  $ 1.07     at $ 42.84
Maple Leaf Foods                 up  $ 0.12     at $ 28.90
Nutrien Ltd.                     up  $ 2.19     at $ 51.19
Ritchie Bros Auctioneers Inc.    dn  $ 0.94     at $ 76.66
Rocky Mountain Dealerships Inc.  up $ 0.03     at $  4.60

(All figures are in Canadian dollars.)

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