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Canadian Financial Close: Loonie rises along with price of oil

Winnipeg, MB, December 5, 2017 (CNS Canada), Dec 05, 2017 (Commodity News Service Canada, Inc. via COMTEX) --

WINNIPEG, Dec. 5 - The Canadian dollar rose Tuesday supported by an increase in the price of oil.

Oil rose Tuesday, supported by strong demand, expectations of a drop in the United States crude inventories and an Organization of Petroleum Exporting Countries led deal to extend output cuts. Brent crude increased 41 cents, or 0.7 per cent, to US$62.86 per barrel.

The Canadian dollar settled Tuesday at US$0.7886 or C$1.2680, compared to Monday's North America close of US$0.7877 or C$1.2695.

In Toronto, the S&P/TSX Composite Index dropped Tuesday by 49.6, or 0.31 per cent, to 15,919.43.

     Canada's agricultural sector performed as follows:
     AGT Food and Ingredients-----dn  $ 0.07    at $ 19.51
     Agrium Incorporated----------dn  $ 0.63    at $134.89
     Buhler Industries------------unchanged     at $  4.60
     Maple Leaf Foods-------------up  $ 0.01    at $ 35.58
     Potash Corp. of Sask---------dn  $ 0.10    at $ 24.07

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