By MarketsFarm
WINNIPEG, June 8 (MarketsFarm) – The Canadian dollar was stronger on Monday, along with a higher tone for global stock indices.
The dollar finished the day at US$0.7472 or US$1=C$1.3383, compared to Friday when it closed at US$0.7447 or US$1=C$1.3429.
Many economies around the world are in various stages of reopening, contributing to strength in equity benchmarks.
The TSX Composite Index was up 120.84 points to close at 15,075.42. The S&P 500 has rallied by almost 45 per cent since lows in March, hitting a 15-week high at 3,323.39.
Benchmark crude oil prices were lower following news that Saudi Arabia will cease additional production cuts at the end of the month. West Texas Intermediate (WTI) was down US$1.44 to close at US$38.11. Brent Crude was down US$1.58 at US$40.72.
Canada’s agricultural sector fared as follows:
Buhler Industries up $ 0.04 at $ 2.53
Linamar Corp. up $ 1.75 at $ 43.50
Maple Leaf Foods up $ 0.59 at $ 26.22
Nutrien Ltd. up $ 0.81 at $ 52.19
Ritchie Bros Auctioneers Inc. dn $ 0.59 at $ 57.87
Rocky Mountain Dealerships Inc. up $ 0.41 at $ 5.68
(All figures are in Canadian dollars.)
