MONEY IN BRIEF

The Prince George Citizen - - Money -

Cur­ren­cies

These are in­dica­tive whole­sale rates for for­eign cur­rency pro­vided by the Bank of Canada on Wed­nes­day. Quo­ta­tions in Cana­dian funds.

Aus­tralia dol­lar 0.9017

Brazil real 0.3298

China ren­minbi 0.188

Euro 1.4734

Hong Kong dol­lar 0.1693

In­dia ru­pee 0.01858

In­done­sia ru­piah 0.000093

Ja­pan yen 0.01247

Malaysia ring­git 0.3178

Mex­ico peso 0.06745

N.Z. dol­lar 0.8511

Nor­way krone 0.1484

Peru­vian new sol 0.3931

Rus­sia rou­ble 0.02019

Saudi riyal 0.354

Singapore dol­lar 0.96

South Africa rand 0.08737

South Korean won 0.001104

Sweden krona 0.1379

Switzer­land franc 1.3534

Tai­wanese dol­lar 0.04236

Thai­land baht 0.04314

Turkey lira 0.2322

U.K. pound 1.6112

U.S. dol­lar 1.3278

Viet­nam dong 0.000057

The mar­kets to­day

North Amer­i­can stock in­dexes have al­most re­cov­ered from last week’s steep losses af­ter mov­ing higher mid­week on some strong earn­ings re­sults. The S&P/TSX com­pos­ite in­dex closed up 95.92 points at 16,309.23, about 30 points shy of where it was be­fore last week’s ma­jor drops.

In New York, the Dow Jones in­dus­trial av­er­age was up 240.29 points at 26,202.73. The S&P 500 in­dex was up 23.92 points at 2,924.43, while the Nas­daq com­pos­ite was up 71.65 points at 8,020.21.

Min­utes from last month’s Fed­eral Re­serve meet­ing failed to move mar­kets much. The cen­tral bank cut in­ter­est rates for the first time since be­fore the fi­nan­cial re­ces­sion even as a cou­ple of mem­bers wanted a 50 ba­sis point cut and a cou­ple saw no need to cut rates at all. In­vestors will be watch­ing closely as Fed chair­man Jerome Pow­ell is ex­pected to pro­vide com­men­tary on in­ter­est rates Fri­day at a sym­po­sium in Jack­son Hole, Wyo.

The Cana­dian dol­lar rose to its high­est level in about a week af­ter Canada’s an­nual inflation hit the Bank of Canada’s tar­get of two per cent for a sec­ond straight month in July.

The loonie traded for an av­er­age of 75.31 cents US com­pared with an av­er­age of 75.06 cents US on Mon­day. Eight of the 11 ma­jor sec­tors of the TSX were higher, led by in­for­ma­tion technology. It rose 1.85 per cent as Shopify Inc. hit an all-time high of $519.69 and closed up four per cent at $519.07. That’s up 225 per cent from the 52-week low. Also ris­ing were health care, en­ergy, in­dus­tri­als and fi­nan­cials. The key en­ergy sec­tor climbed 0.95 per cent de­spite a dip in crude oil prices as Kinder Mor­gan Canada Ltd. surged 31.6 per cent af­ter Pem­bina Pipe­line Corp. an­nounced it would buy the com­pany the U.S. por­tion of the Cochin pipe­line sys­tem in deals it val­ued at a to­tal of about $4.35 bil­lion. The Oc­to­ber crude con­tract was down 45 cents at US$55.68 per bar­rel and the Septem­ber nat­u­ral gas con­tract was down 4.8 cents at US$2.17 per mmBTU. Fi­nan­cials was up as the Royal Bank in­creased its div­i­dend as its third-quar­ter profit rose by five per cent but the lender’s lat­est earn­ings missed es­ti­mates as chal­leng­ing mar­ket con­di­tions weighed on its cap­i­tal mar­kets di­vi­sion. Ma­te­ri­als was lower even though the De­cem­ber gold con­tract was un­changed at US$1,515.70 an ounce.

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