MONEY IN BRIEF
Currencies
These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Thursday. Quotations in Canadian funds.
Australia dollar
Brazil real
China renminbi
Euro
Hong Kong dollar
India rupee
Indonesia rupiah
Japan yen
Malaysia ringgit
Mexico peso
N.Z. dollar
Norway krone
Peruvian new sol
Russia rouble
Saudi riyal
Singapore dollar
South Africa rand
South Korean won Sweden krona Switzerland franc Taiwanese dollar Thailand baht
Turkey lira
U.K. pound
U.S. dollar
Vietnam dong 1.0026 0.4026 0.1912 1.4936 0.162615 0.01983 0.000095 0.01162 0.2962 0.07093 0.9254 0.1599 0.3913 0.02120 0.3390 0.9324 0.09497 0.001111 0.1560 1.3182 0.04190 0.03824 0.3598 1.6506 1.2711 0.000056
Financial highlights
Highlights at the close Wednesday at world financial market trading.
Stocks:
S&P/TSX Composite Index - 15,524.01, up 84.57 points Dow – 24,797.78, down 166.97 points
S&P 500 – 2,701.33, down 14.93 points
Nasdaq – 7,218.23, down 16.08 points
Currencies:
Cdn – 78.92 cents US, down 0.31 of a cent
Pound – C$1.7676, up 0.10 of a cent
Euro – C$1.5608, up 0.29 of a cent Euro – US$1.2318, down 0.25 of a cent
Oil futures:
US$61.68, down 11 cents (April contract)
Gold futures:
US$1,332.10 per oz., up 90 cents (April contract)
Canadian Fine Silver Handy and Harman:
$21.942 oz., up 22.1 cents $705.44 kg., up $7.11
The markets today
TORONTO (CP) — Canada’s main stock index rose and U.S. markets pared back early gains on Wednesday as investors reacted to a late-afternoon surge in bond yields, while the loonie dipped below 79 cents.
Bond prices fell, sending the yield on the U.S. 10-year Treasury note to its highest level in four years – to 2.94 per cent from 2.89 per cent late Tuesday – following newly released minutes Wednesday afternoon from the U.S. Federal suggesting bullish sentiment among policy-makers.
The minutes from last month’s Fed meeting showed that a majority of officials believed that improving global economic prospects and the effects of recently passed U.S. tax cuts had raised the prospect for solid economic growth – and for continued interest rate increases in 2018. The Fed did not raise rates at the January meeting, which occurred before the February stock market plunge and turbulence.
Bank stocks rose along with bond yields on Wednesday, as the S&P/ TSX composite index advanced 84.57 points to 15,524.01 – led by the financials, industrials and materials sector.
The higher bond yields weighed heavily on U.S. technology stocks that led early gains Wednesday on Wall Street indices.
In New York, the Dow Jones industrial average fell 166.97 points to 24,797.78. The S&P 500 index was down 14.93 points to 2,701.33 and the Nasdaq composite index gave back 16.08 points to 7,218.23.