By MarketsFarm
WINNIPEG, April 22 (MarketsFarm) – The Canadian dollar was slightly higher on Wednesday, along with crude oil prices and global stock indices.
The dollar finished the day at US$0.7065 or US$1=C$1.4155, compared to Tuesday when it closed at US$0.7041 or US$1=C$1.4203.
Benchmark crude oil prices have rebounded from historic lows due to significant constraints on storage capacity, coupled with low demand because of COVID-19. West Texas Intermediate (WTI) gained 20 per cent, up by US$2.33 to close at US$13.90 per barrel. Brent crude was also up by US$1.22 at US$20.55 per barrel.
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Global stock indices also closed higher after considerable losses yesterday. The TSX Composite Index increased by 2.5 per cent, up 348 points to close at 14,288.16. The S&P 500 was up by 62.75 to close at 2,799.31. The Dow Jones Industrial Average gained almost two per cent, up by 456.94 points at 23,475.82. The NASDAQ was up by 2.8 per cent, gaining 235.15 to finish at 8,495.38.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.70
Linamar Corp. dn $ 0.37 at $ 29.39
Maple Leaf Foods up $ 1.33 at $ 26.35
Nutrien Ltd. up $ 1.21 at $ 48.80
Ritchie Bros Auctioneers Inc. up $ 2.00 at $ 60.29
Rocky Mountain Dealerships Inc. up $ 0.03 at $ 4.14
(All figures are in Canadian dollars.)
