MONEY IN BRIEF
OTTAWA (CP) — These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Friday. Quotations in Canadian funds. Australia dollar 0.9551
Brazil real 0.3571
China renminbi 0.1961
Hong Kong dollar 0.1691
India rupee 0.01883
Indonesia rupiah 0.000094
Japan yen 0.01223
Malaysia ringgit 0.3237
Mexico peso 0.06928
N.Z. dollar 0.9051
Norway krone 0.1557
Peruvian new sol 0.3966
Russia rouble 0.01979
Saudi riyal 0.3534
Singapore dollar 0.9802
South Africa rand 0.09572
South Korean won 0.001185 Sweden krona 0.1486 Switzerland franc 1.3481 Taiwanese dollar 0.04306 Thailand baht 0.04151
Turkey lira 0.242
U.K. pound 1.7011
U.S. dollar 1.3259
Vietnam dong 0.000057
The markets today
TORONTO (CP) — Canada’s main stock index’s rally continued for a sixth straight day Friday as it posted its best weekly performance in more than three years. The S&P/TSX composite index closed up 35.69 points to 14,939.18. The market gained 512.56 points or 3.55 per cent for the week, its best run since October 2015.
The Toronto market enjoyed its first six-day positive streak since mid-June. U.S. markets snapped their stretch at five days, although they were up about two per cent for the week.
“It’s definitely been a week of relief trading,” said Ian Scott, an equity analyst at Manulife Asset Management.
In New York, the Dow Jones industrial average lost 5.97 points at 23,995.95. The S&P 500 index was down 0.38 of a point at 2,596.26, while the Nasdaq composite was down 14.59 points at 6,971.48.
“It’s been kind of an absence of negative news we’ve been having over the past few weeks that has allowed us to kind of snap back,” he said in an interview.
After rising for several days, the S&P 500 has hit a level of technical resistance in not surpassing 2,600, said Scott.
He said U.S. markets are waiting for the earnings season to kick into gear next week with the reporting of several large banks, along with any news of trade negotiations between the U.S. and China to determine if they will resume their rallies or head lower. All sectors on the TSX gained Friday except industrials and utilities, which dipped slightly. Canadian Natural Resources Inc., Barrick Gold Corp. and CIBC were the top performers on the composite index, while Suncor Energy Inc., Canadian National Railway Co. and CGI Group Inc. were at the bottom.
Health care led by gaining about three per cent on appreciation by several cannabis producers. The tone was set with Tilray’s stock soaring more than 19 per cent on Nasdaq after top shareholder Privateer Holdings Inc. said it did not plan to sell its stock when the lock-up expires next week.
The energy sector was one of the weaker performers Friday, gaining slightly as the streak of higher crude oil prices ended at 10 days as prices rose by 7.6 per cent for the week.
The February crude contract was down $1 at US$51.59 per barrel Friday. The February gold contract was up US$2.10 at US$1,289.50 an ounce and the March copper contract was up 2.45 cents at US$2.66 a pound. The Canadian dollar traded at an average of 75.42 cents US.