MONEY IN BRIEF
Currencies
These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Wednesday. Quotations in Canadian funds.
Australia dollar 0.9815
Brazil real 0.3550
China renminbi 0.2055
Euro 1.5408
Hong Kong dollar 0.1695
India rupee 0.01954
Indonesia rupiah 0.000095
Japan yen 0.01207
Malaysia ringgit 0.3321
Mexico peso 0.06525
N.Z. dollar 0.9142
Norway krone 0.1629
Peruvian new sol 0.4054
Russia rouble 0.02090
Saudi riyal 0.3546
Singapore dollar 0.9795
South Africa rand 0.09764
South Korean won 0.001200
Sweden krona 0.1499
Switzerland franc 1.3359
Taiwanese dollar 0.04406
Thailand baht 0.04053
Turkey lira 0.2806
U.K. pound 1.7541 U.S.
dollar 1.3301
Vietnam dong 0.000058
Financial highlights
Highlights at the close Wednesday at world financial market trading.
Stocks:
S&P/TSX Composite Index - 16,420.95, up 104.42 points (record high)
Dow - 24,657.80, down 42.41 points
S&P 500 - 2,767.32, up 4.73 points Nasdaq - 7,781.51, up 55.92 points (record high) Currencies:
Cdn - 75.18 cents US, down 0.14 of a cent
Pound - C$1.7541, up 0.53 of a cent
Euro - C$1.5408, up 0.49 of a cent Euro - US$1.1584, up 0.15 of a cent
Oil futures:
US$65.71, up 81 cents (August contract)
Gold futures:
US$1,274.50 per oz., down $4.10 (August contract)
Canadian Fine Silver Handy and Harman:
$22.594 oz., down 5.1 cents $726.40 kg., down $1.64
The markets today
A broad-based rally pushed Canada’s main stock index to close at a record high Wednesday, while the loonie dipped and U.S. markets were mixed.
The S&P/TSX composite index closed up 104.42 points at 16,420.95, topping its previous record of 16,412.94 set January 4, 2018.
The index also set an intra-day record, trading as high as 16,444.45 to eclipse the 16,421.42 point high from Jan. 4.
The Toronto market, which has seen fairly steady gains since late March, has been boosted especially by an oil price rally that has lifted the energy sector that makes up almost 20 per cent of the index, said Michael Currie, vice-president and senior investment advisor at TD Wealth. Growth stocks such as Shopify Inc., Canopy Growth Corp., Valeant Pharmaceuticals International, all up 25 per cent or more, have also contributed, said Currie.
Cannabis stocks in particular saw a boost Wednesday, after Prime Minister Justin Trudeau said Canadians would be able to legally buy and smoke marijuana starting Oct. 17. Canopy was up more than six per cent, while Aphria Inc. and Aurora Cannabis Inc. were up more than four per cent.
But while the TSX hit a record, Currie said year-to date gains, where the composite index is up 1.3 per cent, don’t compare that favourably to U.S. markets like the Nasdaq, up almost 13 per cent this year, and the S&P 500, up almost four per cent.