By MarketsFarm
WINNIPEG, Sept. 26 (MarketsFarm) – The Canadian dollar was largely firm, but with a small gain at market close on Friday following today’s announcement that the Province of Alberta was to ease oil curtailments.
The loonie finished the day at US$0.7548 or US$1=C$1.3249, which compares with Thursday’s close of US$0.7541 or C$1.3260.
Western Canadian Select crude slipped 67 cents at US$43.08 per barrel due to Alberta’s announcement.
The TSX/S&P Composite Index was down 96.13 points on Friday with losses in the materials sector. The TSX closed at 16,694.27 points.
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In the United States, the stock and commodities markets incurred losses after President Donald Trump remarked that he might force them to delist Chinese companies. Such a move would make it more difficult for companies from each country to invest in the other. Trump’s statement placed a dark cloud over upcoming U.S./China trade talks after a few days of positive sentiment.
Benchmark oil prices were lower on Friday due to Trump’s remarks as well as supply fears being eased and concerns about the Chinese economy slowing down.
West Texas Intermediate (WTI) crude oil was down 59 cents to close at US$55.82 per barrel, while Brent crude oil was down 99 cents to close at US$61.75 per barrel.
The Dow Jones lost 70.87 to close at 26,820.25 points. The NASDAQ fell 91.03 at 7,939.63 points. The S&P 500 dipped 15.83 to end the week at 2,961.79 points.
Gold prices lost US$10.90 on Friday to close at US$1,504.30 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries dn $ 0.02 at $ 3.73
Linamar Corp. up $ 0.50 at $ 42.59
Maple Leaf Foods dn $ 0.04 at $ 29.92
Nutrien Ltd. up $ 0.55 at $ 65.44
Ritchie Bros Auctioneers Inc. up $ 0.33 at $ 52.41
Rocky Mountain Dealerships Inc. up $ 0.09 at $ 7.06
(All figures are in Canadian dollars.)
