Canadian Financial Close: Loonie higher ahead of the weekend

By MarketsFarm

WINNIPEG, Aug. 10 (MarketsFarm) – The Canadian dollar was slightly stronger on Monday, boosted by strong performances in the financial sector and crude oil values.

The dollar finished the day at US$0.7488 or US$1=C$1.3354, compared to Friday when it closed at US$0.7476 or US$1=C$1.3377.

United States stock indices were higher on Monday following an announcement that the U.S. government will implement aid packages in order to support the economy during the ongoing COVID-19 pandemic.

The TSX Composite Index was up 61.02 points to close at 16,605.50.

Benchmark crude oil prices were slightly stronger, nearing three-week highs following reports that demand will continue to grow. West Texas Intermediate (WTI) was up 84 cents to close at US$42.06. Brent Crude was up 61 cents at US$45.01.

Canada’s agricultural sector fared as follows:

Buhler Int.  up $ 0.24     at $  2.79
Linamar Corp.                    dn  $ 0.72     at $ 41.77
Maple Leaf Foods                 up  $ 0.18     at $ 28.78
Nutrien Ltd.                     up  $ 1.55     at $ 49.00
Ritchie Bros Auctioneers Inc.    up  $ 2.96     at $ 77.60
Rocky Mountain Dealerships Inc.  up $ 0.07     at $  4.57

(All figures are in Canadian dollars.)

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