By MarketsFarm
WINNIPEG, April 29 (MarketsFarm) – The Canadian dollar was higher on Wednesday due to gains in crude oil prices.
The dollar finished the day at US$0.7183 or US$1=C$1.3922, compared to Tuesday when it closed at US$0.7154 or US$1=C$1.3978.
Benchmark crude oil prices were stronger on Wednesday following news that U.S. crude stockpiles increased less than expected. Positive market sentiment towards the easing of lockdown restrictions was also supportive.
Brent crude oil rose US$2.47 to close at US$22.93 per barrel. West Texas Intermediate (WTI) crude oil gained US$2.92 at US$15.26 per barrel. Western Canadian Select (WCS) was up US$2.31 at US$7.35 per barrel.
The TSX Composite Index gained 429.82 points to close at 15,228.11.
Gold was up US$6.42 at US$1,714.21 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.65
Linamar Corp. up $ 3.57 at $ 33.75
Maple Leaf Foods up $ 0.39 at $ 26.70
Nutrien Ltd. up $ 1.39 at $ 51.25
Ritchie Bros Auctioneers Inc. up $ 0.69 at $ 60.63
Rocky Mountain Dealerships Inc. up $ 0.25 at $ 4.35
(All figures are in Canadian dollars.)
