By Commodity News Service Canada
WINNIPEG, May 10 – The Canadian dollar broke out of its
recent slump on Wednesday, taking support from gains in crude
oil.
Advances in gold, natural gas and silver were also
supportive for the commodity-rich currency.
The Canadian dollar closed at US$0.7314 or C$1.3672,
compared to Tuesday’s close of US$0.7284 or C$1.3728.
The S&P/TSX Composite Index rebounded on Wednesday, pushed
higher by the energy sector.
A drawdown in US oil inventories bolstered companies like
Cenovus, which finished 3.5% higher. Encana rose by 3%.
The resource group also jumped with Kinross ending the day
up 4.1%.
The index rose by 64.01 points, or 0.4%, to 15,633.21.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 1.30 at $ 25.08
Agrium Incorporated———-up $ 0.56 at $125.83
Buhler Industries————– $ 0.00 at $ 4.51
Maple Leaf Foods————-dn $ 0.11 at $ 33.99
Potash Corp. of Sask———up $ 0.08 at $ 22.64
(All figures are in Canadian dollars.)
