MONEY IN BRIEF

The Prince George Citizen - - Money -

Cur­ren­cies

OT­TAWA (CP) — These are in­dica­tive whole­sale rates for for­eign cur­rency pro­vided by the Bank of Canada on Fri­day. Quo­ta­tions in Cana­dian funds. Aus­tralia dol­lar 0.948 Brazil real 0.3423 China ren­minbi 0.2 Euro 1.5015 Hong Kong dol­lar 0.1716 In­dia ru­pee 0.01926 In­done­sia ru­piah 0.000095 Ja­pan yen 0.01206 Malaysia ring­git 0.3257 Mex­ico peso 0.07104 N.Z. dol­lar 0.8972 Nor­way krone 0.1552 Peru­vian new sol 0.4051 Russia rou­ble 0.0208 Saudi riyal 0.3589 Sin­ga­pore dol­lar 0.9888 South Africa rand 0.09381 South Korean won 0.001161 Sweden krona 0.1418 Switzer­land franc 1.3205 Tai­wanese dol­lar 0.04355 Thai­land baht 0.04216 Turkey lira 0.2265 U.K. pound 1.7396 U.S. dol­lar 1.346 Viet­nam dong 0.000058

The mar­kets to­day

TORONTO (CP) — Canada’s main stock in­dex moved higher to end a week that saw it fal­ter a lit­tle af­ter hit­ting an all-time high. The S&P/TSX com­pos­ite in­dex closed up 37.36 points at 16,613.46, end­ing a two-day slide.

The mar­ket rose as gains in the ma­te­ri­als sec­tor off­set an en­ergy pull­back prompted by com­ments from U.S. Pres­i­dent Don­ald Trump.

On Tues­day, the TSX hit a record clos­ing price of 16,669.40. The mar­ket should grad­u­ally rise to sur­pass that thresh­old, although gains for the rest of the year won’t match the near 16 per cent gain so far this year, said Kevin Head­land, se­nior in­vest­ment Strate­gist at Man­ulife In­vest­ments. “I wouldn’t be sur­prised if we sur­passed the highs reached al­ready both on the TSX and in the U.S. I think there’s enough sup­port for an up­ward tra­jec­tory,” he said.

Eight of the 11 ma­jor sec­tors rose on the day with ma­te­ri­als gaining 1.95 per cent, fol­lowed by health care. Sev­eral pre­cious metal min­ers saw their shares rise by up to 4.8 per cent, while Sher­ritt In­ter­na­tional lost nearly 29 per cent af­ter the com­pany re­ported dis­ap­point­ing earn­ings blamed on low cobalt prices and com­pli­ca­tions in Cuba.

The June gold con­tract was up US$9.10 at US$1,288.80 an ounce and the July cop­per con­tract was up 2.65 cents at US$2.89 a pound.

The en­ergy sec­tor was off by 1.8 per cent as En­cana Corp. was down 2.9 per cent, fol­lowed by Fron­tera En­ergy Corp. and Cres­cent Point En­ergy Corp.

Part of the de­cline was due to lower oil prices, which fell af­ter Trump said he told OPEC to take ac­tion to re­duce fuel costs.

“It’s in­ter­est­ing how the mar­kets are mov­ing just based on his com­ments and not any ac­tual news,” said Head­land. The June crude con­tract was down US$1.91 at US$63.30 per bar­rel and the June nat­u­ral gas con­tract up 3.2 cents at US$2.58 per mmBTU.

The Cana­dian dol­lar traded at an av­er­age of 74.29 cents US com­pared with an av­er­age of 74.11 cents US on Thurs­day. U.S. mar­kets also rose Fri­day de­spite mixed earn­ings re­ports. In New York, the Dow Jones in­dus­trial av­er­age was up 81.25 points at 26,543.33. The S&P 500 in­dex was up 13.71 points at 2,939.88, while the Nas­daq com­pos­ite was up 27.72 points at 8,146.40.

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