Canadian Financial Close: Toronto, U.S. exchanges make big gains

By Commodity News Service Canada

WINNIPEG, July 19 (CNS) – Toronto’s S&P/TSX composite index gained 95.14 points today led mostly by gains in the energy sector, which rose 3.1%. The exchange ended the day at 15,244.71, an increase of .63%.
In the United States, the S&P 500 and Nasdaq posted record highs on strong performance from the technology sector.
The S&P 500 gained 13.22 points, or .54%, to close at 2,473.83, the Dow Jones climbed 66.02 points, or .31% to finish at 21,640.75 and the Nasdaq finished the day 40.74 points higher (.64%)at 6,385.04.

Canadian Dollar and Business Outlook: Loonie slips, gold falls

Glacier FarmMedia | MarketsFarm — The Canadian dollar slipped below the 73 United States cent mark on Friday morning. The…

The U.S. dollar was mixed making gains against the euro but falling against the Japanese yen. Investors remain cautious about investing in the U.S. dollar, skeptical that U.S. President Donald Trump will be able to make headway with his economic agenda.
The Canadian dollar closed slightly higher at 79.40 cents U.S. or C$1.2595. It closed yesterday at 79.19 cents U.S., or C$1.2628.
WTI crude oil is up 72 cents U.S. to US$47.12 per barrel, an increase of 1.55%.

Prominent shareholders are attempting to block Rayonier Advanced Materials Inc.’s proposed takeover of Tembec Inc., a Canadian lumber and paper producer. Oaktree Capital Group has gained support from Restructuring Capital Associates. Both say they will oppose the proposed US$807 million friendly takeover. The two companies control 37 per cent of Tembec shares.

A proposed gold mine in Nunavut has received approval from the Nunavut Impact Review Board. Sabina Gold and Silver Corp.’s proposed mine at Black River had previously been rejected.

The federal government has vowed to end the practice of secret corporate ownership in a bid to help combat tax evasion and money laundering. New rules will require Canadian company owners to reveal their names in government filings.

Canada’s agricultural sector performed as follows:

AGT Food and Ingredients—–up $ 0.15 at $ 25.31
Agrium Incorporated———-up $ 1.95 at $126.08
Buhler Industries————– $ 0.00 at $ 4.15
Maple Leaf Foods————-up $ 0.21 at $ 32.99
Potash Corp. of Sask———up $ 0.33 at $ 22.65

(All figures are in Canadian dollars.)