By Commodity News Service Canada
June 29 (CNS Canada) – Canadian stocks tumbled today on speculations that the Bank of Canada will raise lending rates in two weeks. Bank of Canada Governor Stephen Poloz has been suggesting that with Canada’s economy now stable, the need for lower interest rates is easing.
The S&P/TSX fell 142.2 points today, a decline of .93 per cent to 15,213.42.
In New York, the Dow Jones Industrial average fell 167.6 points (.78 per cent) to close at 21,287.03, Nasdaq fell 90 points (1.44 per cent) to 6,144.35 and the S&P 500 fell 20.99 points (.86 per cent) to end the day at 2,419.70.
Read Also
Canadian Financial Close: Loonie drops, new record for TSX
Glacier FarmMedia | MarketsFarm – The Canadian dollar tumbled on Friday but still ended the week slightly higher than the last….
The weighty losses at the tech-heavy Nasdaq were attributed to investors divesting out of stocks in computer and internet companies to escape tech sector volatility.
The Canadian dollar gained slightly today to hit 76.83 cents U.S., or C$1.3015 per US$1 after closing at 76.57, (C$1.306 per US$1) yesterday.
WTI crude gained 13 cents at US$44.87. Overall crude oil prices have managed gains in six straight sessions, following a decline in U.S. weekly crude production.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.43 at $ 22.62
Agrium Incorporated———-dn $ 1.25 at $117.63
Buhler Industries————– $ 0.00 at $ 4.23
Maple Leaf Foods————-dn $ 0.11 at $ 32.57
Potash Corp. of Sask———dn $ 0.18 at $ 21.11
(All figures are in Canadian dollars)
