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Canadian Financial Close: Loonie closes lower after wild stock market week

WINNIPEG, MB, Feb. 9, 2018 (CNS Canada), Feb 09, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

WINNIPEG, Feb. 9 - The Canadian dollar ended the week down as the price of oil continued to slip and the stock market remained volatile.

The Canadian dollar settled Friday at US$0.7931 or C$1.2609, compared to Thursday's North American close of at US$0.7946 or C$1.2585.

Oil prices slipped below US$60 per barrel for the first time since December on renewed concerns about rising crude supplies. Brent crude dropped nearly nine per cent this week to settle at US$62.79 per barrel, while U.S. West Intermediate crude fell 10 per cent to US$59.20 per barrel.

Wall Street managed to hold modest gains Friday in another volatile session during a week which saw huge swings shaking the market out of months of calm. On Friday alone the S&P500 swung from as high as 1.5 per cent above to 1.9 per cent below, while the Dow Jones Industrial Average moved in a range of more than 800 points.

In Toronto, the TSX/S&P Composite fell Friday, closing at its lowest level in five months reflecting weakness in mining stocks as gold futures and copper prices declined. The TSX/S&P dropped 31.08 points, or 0.21 per cent, to 15,034.53.

     Canada's agricultural sector performed as follows:
     AGT Food and Ingredients-----up  $ 0.31    at $ 20.30
     Buhler Industries------------unchanged     at $  4.15
     Maple Leaf Foods-------------up  $ 0.12    at $ 33.91
     Nutrien Ltd.-----------------dn  $ 0.79    at $ 56.05

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