WINNIPEG, May 22 (MarketsFarm) – The Canadian dollar rallied after previous losses, to close steady on Wednesday.
The Canadian dollar closed at US$.7457 or US$1=C$1.3410, up from Tuesday’s close of US$.7455 or US$1=C$1.3413.
The S&P/TSX Composite Index lost 99.12 points to close at 16,327.35, falling 0.60 per cent thanks to lagging shares in gold and mineral firms. A strong performance from cannabis company Cronos Group Inc. mitigated further losses.
Most stock indexes were lower amidst the escalating trade war between the United States and China. The NASDAQ lost 34.88 at 7,750.84 points. Similarly, the Dow Jones dropped by 100.72 points to close at 25,776.61. The S&P 500 Index was down by 8.09 points, closing at 2,856.27 points.
Oil futures sank on Wednesday, dragged down by higher-than-expected crude stockpiles and worries of a global economic slowdown. West Texas Intermediate lost US$1.84 to end the day at US$61.29 per barrel, and Brent Crude oil lost US$1.41 to hit US$70.77 per barrel.
Canada’s agricultural sector fared as follows:
AGT Food and Ingredients——-n/a
Linamar Corp ——————n/a
Maple Leaf Foods—————n/a
Nutrien Ltd. ——————n/a
Ritchie Bros Auctioneers Inc.–n/a
Rocky Mountain Dealership Inc.-n/a
(All figures are in Canadian dollars.)