By MarketsFarm
WINNIPEG, Oct. 8 (MarketsFarm) – The Canadian dollar increased by almost a third of a cent on Thursday, due to higher crude oil prices.
The dollar finished at US$0.7564 or US$=C$1.3220, compared to Wednesday’s close of US$0.7533 or US$1=C$1.3275.
Benchmark crude oil prices were stronger on Thursday, as the shutdown of oil facilities in the Gulf Mexico and the strike by oil workers in Norway both continued. Also, support came from hopes the United States will put together an economic stimulus package to deal with the COVID-19 pandemic.
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Brent crude oil jumped US$1.44 at US$43.43 per barrel. West Texas Intermediate (WTI) crude oil rose US$1.34 at US$41.29 per barrel. Western Canadian Select (WCS) crude leapt US$1.49 at US$31.69 per barrel.
The TSX Composite Index gained 106.24 points on Thursday to finish at 16,534.54.
Gold was up US$6.71 at US$1,894.13 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.01 at $ 2.27
Linamar Corp. up $ 0.68 at $ 43.73
Maple Leaf Foods up $ 0.04 at $ 25.13
Nutrien Ltd. up $ 0.21 at $ 53.81
Ritchie Bros Auctioneers Inc. dn $ 0.11 at $ 84.00
Rocky Mountain Dealerships Inc. dn $ 0.04 at $ 5.70
(All figures are in Canadian dollars.)
