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Canadian Financial Close: Vaccine hopes push most markets up

Moderna's vaccine scores 94.5 efficacy

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Published: November 16, 2020

By MarketsFarm

WINNIPEG, Nov. 16 (MarketsFarm) – The Canadian dollar was stronger on Monday, due to widespread market optimism towards a COVID-19 vaccine.

The dollar finished at US$0.7642 or US$=C$1.3085 compared to Friday’s close of US$0.7606 or US$1=C$1.3147.

Moderna Inc. released preliminary test results that showed their experimental vaccine scored a 94.5 per cent efficacy rating.

Benchmark crude oil prices were higher on Monday also on that positive sentiment.

Brent crude oil rose US$1.12 at US$43.90 per barrel. West Texas Intermediate (WTI) crude oil gained US$1.25 at US$41.38 per barrel. Meanwhile, Western Canadian Select (WCS) crude slipped back 31 cents at US$31.85 per barrel.

The TSX Composite Index was up 214.17 points on Monday to finish at 16,889.81.

Gold was nudged upward 33 cents in choppy trading to US$1,889.53 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Industries unchanged at $ 2.25
Linamar Corp. up $ 2.04 at $ 60.21
Maple Leaf Foods up $ 0.25 at $ 25.74
Nutrien Ltd. up $ 1.67 at $ 56.78
Ritchie Bros Auctioneers Inc. dn $ 1.41 at $ 82.79
Rocky Mountain Dealerships Inc. unchanged at $ 7.00
(All figures are in Canadian dollars.)

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