Canadian Financial Close: Canadian dollar firm

By MarketsFarm

WINNIPEG, Dec. 10 (MarketsFarm) – The Canadian dollar was steady on Tuesday, despite a dip in global stock indexes.

The dollar finished the day at US$0.7557 or US$1=C$1.3233, compared to Monday when it closed at US$0.7556 or US$1=C$1.3235.

Stock markets closed lower for a second consecutive day ahead of the United States Federal Reserve rate announcement, the United Kingdom’s election on Dec. 12, and a looming tariff deadline between the U.S. and China.

The TSX Composite Index closed flat, slipping by 0.15 points at 16,950.70. The S&P 500 lost 3.44 to close at 3,132.52. The Dow Jones was down by 27.88 to finish at 27,881.72. The NASDAQ was down 5.65 to finish at 8,616.18.

Benchmark oil prices were steady to slightly higher following reports that the Organization of Petroleum Exporting Countries (OPEC) and its allies will continue production cuts. Brent crude oil was 15 cents higher, closing at US$64.40 per barrel. West Texas Intermediate (WTI) crude oil was up by 29 cents to close at US$59.31 per barrel.

Canada’s agricultural sector fared as follows:

Buhler Industries unch at $ 3.60
Linamar Corp. up $ 0.52 at $ 46.02
Maple Leaf Foods up $ 0.50 at $ 25.61
Nutrien Ltd. dn $ 0.69 at $ 61.37
Ritchie Bros Auctioneers Inc. dn $ 0.16 at $ 57.23
Rocky Mountain Dealerships Inc. up $ 0.04 at $ 6.39

(All figures are in Canadian dollars.)

END

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