By MarketsFarm
WINNIPEG, Oct. 7 (MarketsFarm) – The Canadian dollar was slightly higher on Monday, holding at just over 75 U.S. cents.
The dollar finished the day at US$0.7515 or US$1=C$1.3306, compared to Friday when it closed at US$0.7509 or US$1=C$1.3330
U.S. stocks were in the red on Monday after a choppy day of trading. In particular, technology stocks took a hit, offsetting gains made in the communications sector. A report that United States consumer borrowing increased in August was seen as a supportive signal to the U.S. economy, despite concerns that economic growth has stagnated.
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The TSX Composite Index closed lower by 27.53 points at 16,421.82. The S&P 500 lost 9.81 to close at 2,942.51. Similarly, the Dow Jones decreased by 53.45 points to finish at 26,520.62. The NASDAQ was down 15.47 to finish at 7,963.73.
Benchmark oil prices were muted due to lingering concerns of global economic growth and demand for oil. Also, Saudi Arabia has restored its output levels after the attacks on oil facilities last month. Brent crude oil was up by 15 cents to close at US$58.52 per barrel. West Texas Intermediate (WTI) crude oil was up by 13 cents to close at US$52.94 per barrel.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 3.60
Linamar Corp. up $ 0.29 at $ 38.65
Maple Leaf Foods up $ 0.13 at $ 29.60
Nutrien Ltd. up $ 0.23 at $ 64.71
Ritchie Bros Auctioneers Inc. up $ 0.28 at $ 52.34
(All figures are in Canadian dollars.)
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