By Commodity News Service Canada
WINNIPEG, March 11 – The Canadian dollar advanced against
its US counterpart Friday, as gains in crude oil led the market
past a disappointing labour report. The loonie briefly tumbled
after Canada reported a loss of 2,300 jobs in February, before
oil prices rallied the market higher.
The Canadian dollar closed at US$0.7558 or US$1 = 1.3231
which compared with Thursday’s close of US$0.7493 or US$1 =
C$1.3346.
The Standard & Poor’s/TSX Composite Index chalked up gains
as a growing number of analysts say crude oil has already hits
its lowest point. There is also growing optimism that European
stimulus measures will help float Canadian stocks higher.
The S&P/TSX Composite Index jumped 142.86 points, or 1.07%,
to 13,522.00.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.06 at $ 37.80
Agrium Incorporated———-up $ 0.82 at $117.97
Buhler Industries————– $ 0.00 at $ 4.95
Maple Leaf Foods————-up $ 0.64 at $ 27.23
Potash Corp. of Sask———dn $ 0.20 at $ 24.16
(All figures are in Canadian dollars.)
