By Commodity News Service Canada
Winnipeg, May 12 – The Canadian dollar was marginally higher against its US counterpart at midday Monday, after reports the Chinese government is preparing to widen market access.
Copper prices jumped on the news China’s cabinet was agreeable to ideas of streamlining the approval process for initial public stock offerings.
The July copper contract rose six cents to US$3.15 a pound while the base metals sector was up 2.9 per cent overall.
The energy sector rose 0.8 per cent while the June crude oil contract climbed 84 cents to US$100.83 a barrel.
At 11:40 CDT Monday, the Canadian dollar was trading at US$0.9181 or US$1.0892, which compares with Friday’s North American close of US$0.9178, or US$=$1.0896.
At 11:40 CDT Monday, the Toronto Stock Exchange was up 83.73 points to sit at 14,617.79.
