Canadian Financial Close: Loonie slips on drop in manufacturing sales
By Commodity News Service Canada
WINNIPEG, Feb. 14 (CNS Canada) – The Canadian dollar was down at market close on Thursday on reports of a drop in manufacturing sales in December.
The dollar finished Thursday at US$0.7520 or US$1=C$1.3298, which compares with Wednesday’s close of US$0.7553 or C$1.3240.
Manufacturing sales in Canada fell 1.3 per cent in December, largely on a decline of petroleum and coal product sales, according to a Statistics Canada report.
Gains in oil prices on Thursday helped to counter further losses on the loonie.
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In the United States the stock markets were mixed Thursday on news that consumer spending dropped 1.2 per cent in December from November. But markets were optimistic progress could be made at the U.S./China trade talks in Beijing.
The Dow Jones lost 103.88 points to end Thursday at 25,439.39 points. The S&P500 slipped 7.30 points to close at 2,745.73 points. The NASDAQ was up 6.58 points to finish the day at 7,426.96 points.
Oil prices were up on Thursday. West Texas Intermediate crude oil gained 66 cents to close at US$54.56 per barrel. Brent crude oil rose US$1.04 cents to close at US$64.65 per barrel.
Gold was up 30 cents on Thursday to US$1,312.70 per ounce.
Canada’s agricultural sector faired as follows:
AGT Food and Ingredients———dn $0.01 at $ 17.86
Linamar Corp.——————–dn $ 0.10 at $ 48.40
Maple Leaf Foods—————–dn $ 0.02 at $ 29.74
Nutrien Ltd.———————dn $ 0.17 at $ 71.50
Ritchie Bros Auctioneers Inc.—-up $ 0.42 at $ 48.28
Rocky Mountain Dealerships Inc.–unchanged at $ 8.84
(All figures are in Canadian dollars.)
