By Commodity News Service Canada
Aug. 15 – A stronger U.S. currency weighed on the Canadian dollar, as the loonie slipped for another day to close at US$0.7840, or C$1.2755 per US$1. It closed yesterday at US$0.7871, or C$1.2705.
The S&P/TSX composite index closed today down 22.07 points, or 0.15%, at 15,097.84 today, dragged lower by resource stocks. The energy sector was down 0.52% overall, materials followed with a drop of 0.43%.
In New York, the Dow Jones continued to hold mostly steady despite the harsh-sounding rhetoric exchanged between U.S. president Donald Trump and North Korean leader Kim Jong Un. Home Depot Inc., was a major drag on stocks early in the day. The Dow closed today at 21,998.99, a gain of 5.28 points (0.02%).
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The S&P 500 lost 1.23 points (0.05%), to end the day at 2,464.61 and the Nasdaq dropped 7.22 points (0.11%) to 6,333.01.
WTI crude gained one cent U.S. to US$47.60.
Gold fell US$12.70 to US$1,277.70.
Apple Inc. announced plans to offer for sale C$2.5 billion in Canadian-dollar-denominated bonds to fund dividends and stock buybacks. It would be the largest ever tranche debt offer by a foreign body in Canada’s Maple bond market.
Apple is offering the seven-year unsecured bonds at a spread of 80 basis points over a benchmark of comparable Canadian bonds.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–dn $ 0.25 at $ 23.58
Agrium Incorporated———-up $ 0.42 at $125.38
Buhler Industries————– $ 0.00 at $ 4.16
Maple Leaf Foods————-up $ 0.28 at $ 34.76
Potash Corp. of Sask———up $ 0.05 at $ 22.32
(All figures are in Canadian dollars.)
