By Commodity News Service Canada
WINNIPEG, March 10 – The Canadian dollar finished stronger
against its US counterpart to end the week as rumours of a US
rate hike started to appear more certain.
A strong US labor report pushed the US dollar index lower
and sent traders fleeing for cover. The report fueled
expectations the US Federal Reserve would now move forward with
adjustments to the interest rate. Canada added 15,000 jobs in
February, which also supported the loonie.
The Canadian dollar closed at C$0.7428 or US$1=C$1.3463,
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The S&P/TSX Composite Index eked out tiny gains on Friday
as losses in the banking sector were offset by advances in
mining.
Toronto-Dominion bank fell 5.3% in the wake of a media
report alleging some tellers at the bank were engaging in shady
upselling practises to meet sales targets.
The health-care sector rose 2% after Valeant
Pharmaceuticals chalked up a 5.3% gain.
The index rose 9.84 points, or 0.1%, to 15,506.68.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.04 at $ 32.39
Agrium Incorporated———-dn $ 0.01 at $131.17
Buhler Industries————dn $ 0.05 at $ 4.55
Maple Leaf Foods————-up $ 0.13 at $ 31.25
Potash Corp. of Sask———– $ 0.00 at $ 23.49
(All figures are in Canadian dollars.)
