By MarketsFarm
WINNIPEG, May 19 (MarketsFarm) – The Canadian dollar was higher following market closures for the Victoria Day long weekend, due to hopes that Canada’s economy will weather the COVID-19 pandemic.
The dollar finished the day at US$0.7198 or US$1=C$1.3893, compared to Friday when it closed at US$0.7095 or US$1=C$1.4094.
Stocks were mostly lower on Tuesday due to an uncertain outlook regarding a vaccine for the COVID-19 coronavirus. The TSX Composite Index was up 246.58 points to close at 14,885.48. The S&P 500 lost 30.97 points to close at 2,922.94. The Dow Jones Industrial Average was down by 390.51 points at 24,206.86. The NASDAQ decreased 49.73 to finish at 9,185.10.
Benchmark crude oil prices were narrowly mixed. West Texas Intermediate (WTI) was up by 54 cents to close at US$32.36. Brent Crude was down by 10 cents at US$34.71.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.65
Linamar Corp. up $ 2.69 at $ 34.12
Maple Leaf Foods up $ 0.11 at $ 26.00
Nutrien Ltd. up $ 0.44 at $ 45.14
Ritchie Bros Auctioneers Inc. up $ 0.26 at $ 57.22
Rocky Mountain Dealerships Inc. up $ 0.01 at $ 4.23
(All figures are in Canadian dollars.)
