Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 7 (MarketsFarm) – The Canadian dollar was stronger on Thursday, with the oil-linked currency benefitting from higher crude oil prices.
The loonie closed at US$0.7701 or US$1=C$1.2986, compared to Wednesday’s close of US$0.7665 or US$1=C$1.3047.
On the U.S. Dollar Index, the greenback nudged up 0.022 of a point at 106.920.
Benchmark crude oil prices were higher on Thursday as tight supplies overpowered concerns about a looming recession.
Brent crude oil increased US$3.45 at US$104.14 per barrel. West Texas Intermediate (WTI) crude oil gained US$3.72 at US$102.25 per barrel. Western Canadian Select (WCS) climbed US$3.96 at US$80.40 per barrel.
The TSX Composite Index advanced 333.51 points to finish Thursday at 19,063.17.
Gold was up US$2.70 at US$1,739.20 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.34
Farmers Edge Inc. dn $ 0.01 at $ 1.65
Linamar Corp. up $ 3.06 at $ 56.58
Maple Leaf Foods up $ 0.50 at $ 26.43
Nutrien Ltd. up $ 3.18 at $ 99.89
Ritchie Bros Auctioneers Inc. dn $ 0.95 at $ 84.69
(All figures are in Canadian dollars.)
