WINNIPEG, Dec. 12 (MarketsFarm) – The Canadian dollar was slightly stronger on Thursday, buoyed by global optimism for a trade deal between the United States and China.
The dollar finished the day at US$0.7586 or US$1=C$1.3182, compared to Wednesday when it closed at US$0.7575 or US$1=C$1.3201.
Stock markets finished stronger following reports that the U.S. has reached a trade deal in principal with China. The TSX Composite Index closed higher by 7.29 points at 16,939.61. The S&P 500 gained 26.94 to close at 3,168.57. The Dow Jones was up by 220.75 to finish at 28,132.05. The NASDAQ was up 63.27 to finish at 8,717.32.
Benchmark oil prices were also higher due to the deal in principal. Brent crude oil was 65 cents higher, closing at US$64.37 per barrel. West Texas Intermediate (WTI) crude oil was up by 54 cents to close at US$59.30 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 3.60
Linamar Corp. up $ 2.12 at $ 46.24
Maple Leaf Foods dn $ 0.22 at $ 25.28
Nutrien Ltd. up $ 0.67 at $ 61.72
Ritchie Bros Auctioneers Inc. dn $ 0.55 at $ 56.90
Rocky Mountain Dealerships Inc. dn $ 0.12 at $ 6.29
(All figures are in Canadian dollars.)