By MarketsFarm
WINNIPEG, August 16 (MarketsFarm) – The Canadian dollar gained almost a quarter of a cent at market close on Friday, as the North American stock markets rebounded.
The loonie finished the day at US$0.7527 or US$1=C$1.3286, which compares with Thursday’s close of US$0.7505 or C$1.3325.
News that the German government has considered a stimulus package through deficit spending gave a much needed boost to the stock indices.
The TSX/S&P Composite Index was up 137.26 points on Friday, to close at 16,149.79.
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In the United States, the Dow Jones gained 306.62 points to close at 25,886.01. The NASDAQ rose 129.37 points to end the week at 7,895.99 and the S&P 500 was up 41.08 to finish at 2,888.68.
Benchmark oil prices were higher Friday as stimulus by central banks helped to alleviate fears about a global recession. That was offset by OPEC lowering its demand forecast based on slow growth in 2020.
Brent crude oil was up 40 cents to close at US$58.63 per barrel. West Texas Intermediate (WTI) crude oil was up 41 cents to close at US$54.88 per barrel.
As of Thursday, Western Canadian Select (WCS) crude oil was down 82 cents at US$43.17 per barrel. On August 15, the WCS/WTI price differential increased six cents at US$11.30 per barrel.
Gold was down US$6.30 on Friday to close at US$1,524.90 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.77
Linamar Corp. up $ 1.04 at $ 39.42
Maple Leaf Foods up $ 0.25 at $ 33.01
Nutrien Ltd. up $ 1.07 at $ 66.11
Ritchie Bros Auctioneers Inc. up $ 0.58 at $ 51.59
Rocky Mountain Dealerships Inc. up $ 0.08 at $ 6.63
(All figures are in Canadian dollars.)
